The Free Trade Agreement between the EU and Canada (CETA): An evaluation of the EU’s trade policy

Abstract

The EU has recently introduced a radical shift in its political strategy with respect to trade agreements with third parties. The purpose of these agreements is not anymore directed by foreign policy interests, but lies in the economic interest consisting in gaining better access to the markets of third countries. The “deep” Free Trade Agreement (FTA) is the legal instrument used by the EU in this new stage. The trade agreement between the EU and Canada (CETA) is the latest and most successful example of this type of deep FTA, as it derives from its substantive and institutional elements discussed in this paper. Although it is unclear whether economically speaking this kind of agreements are so advantageous to the EU as they are to its partners, the fact is that the former has embarked on a rapid process of concluding these agreements in order to influence both the agenda and the international trade regulation, which is deeply affecting the multilateral trading system and the WTO as a global forum.