151. The Lisbon Treaty effect: toward a new EU-Japan economic and trade partnership?
- Author
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Nelson, PatriciaA.
- Subjects
TREATY on European Union (1992). Protocols, etc., 2007 December 13 ,INTERNATIONAL trade ,FREE trade ,INVESTMENT treaties ,NONTARIFF trade barriers ,FOREIGN investments ,FOREIGN relations of the European Union ,JAPANESE foreign relations, 1989- - Abstract
The Lisbon Treaty signalled that the European Parliament had become a central actor in the EU-Japan economic and trade partnership. In 2007, the ‘Global Europe’ strategy formalized the EU's process of expanding trade relationships via free trade agreements (FTAs). The EU-Korea FTA was the first of these to enter into force in 2011. Should Japan and the EU move forward with their own bilateral economic agreement despite a number of pending economic and trade issues ranging from mutual recognition or harmonization in clinical trials to the expansion of foreign direct investment to regulatory transparency? There are two main stumbling blocks to an agreement: linkage of issues and non-tariff measures (NTMs), i.e. local rules and standards that hinder trade. Three case studies in aerospace, telecommunications and food safety show that linkage has not been successful and highlights specific NTMs. The findings indicate that progress toward an EU-Japan FTA (or economic integration agreement or economic partnership agreement) hinges on the sector's regulatory past, the degree of transparency including the presence of NTMs and external factors including global trends and momentum towards agreements in other parts of the world. It remains to be seen if a formal bilateral trade arrangement is likely to result from the adoption of new approaches to negotiations. [ABSTRACT FROM PUBLISHER]
- Published
- 2012
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