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The Impact of the Transatlantic Trade and Investment Partnership on International Cooperation

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Edited By Elżbieta Czarny, Andżelika Kuźnar and Jerzy Menkes

This book gathers Polish and foreign scholars to consider diverse aspects of Transatlantic Trade and Investment Partnership (TTIP). It examines key general areas such as the improvement of the position of the negotiating parties in the world economy, in politics and in international organisations. The contributors analyze possible acceleration of non-discriminatory liberalisation negotiations, creation of new international standards or reducing regulatory differences, such as «Investor-state dispute settlement» (ISDS), public health, geographical indications. The contributions focus also on specific issues, such as the impact of TTIP on Polish and EU economy, on merchandise and services trade, energy supply, research and development, Information and Communication Technologies (ICT), or on the third parties.

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Chapter 2. Regional Trade Agreements of the EU and the US — What Is the Common Ground?

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The European Union (EU) and the United States (US) are among the most important economies of the world and they are crucial trading partners for each other and for others. Moreover, they are key forces shaping global trade law, mainly within the framework of the World Trade Organization (WTO). On the other hand, they are also hubs of regional trade agreements (RTAs), concluded mainly with smaller and/or less-developed partners.

Therefore, the Transatlantic Trade and Investment Partnership (TTIP), which has been negotiated since July 2013, is perceived as one of the most important RTAs ever. Negotiations were supposed to be easy and concluded by the end of 2014. The reality proved otherwise and the differences have proved to be deeper. The main aim of this chapter is to address that issue and compare the RTAs of the EU and the US.

According to the WTO database, the European Union is party to more than 40 RTAs notified to the WTO, while the United States has issued notice of 14. This difference results from a completely different attitude towards regional, extra-WTO integration. It is probably also because the aims of the EU and the US in terms of their RTAs are different. Moreover, the degree of integration in the RTAs concluded by both parties varies by region and when they were concluded.

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