Publication Type

Journal Article

Version

publishedVersion

Publication Date

6-2019

Abstract

Focusing on Trans-Pacific Partnership (TPP), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and Comprehensive Economic and Trade Agreement (CETA) as deep free trade agreements (FTAs) that concentrate on regulatory disciplines, this article examines a key question concerning the future of deep FTAs: do deep FTAs converge and, if so, why? It argues that, first, deep FTAs converge in their approach to trade and investment in two crucial respects: regulatory disciplines and dispute settlement. CPTPP narrows its gap with CETA through suspending rules in arguably most controversial aspects of TPP (i.e. intellectual property and investor-state dispute settlement [ISDS]). Differences emerge but are not unbridgeable, and convergence varies depending on the area. Second, the reasons for the convergence include shared FTA objectives (particularly regulatory protection), the development of FTA rules from WTO norms, and other factors (e.g. the lessons drawn from previous ISDS experience, the inherent limit of FTAs, and membership overlap). Finally, the convergence of deep FTAs has the potential to bridge most if not all differences if there is political willingness.

Keywords

convergence, free trade, future prospect, investment, World Trade Organization

Discipline

International Trade Law

Research Areas

Public International Law, Regional and Trade Law

Publication

Journal of World Trade

Volume

53

Issue

2

First Page

317

Last Page

342

ISSN

1011-6702

Identifier

10.54648/trad2019015

Publisher

Kluwer Law International

Copyright Owner and License

Publisher

Additional URL

https://doi.org/10.54648/trad2019015

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