The EU and Canada have developed a broad-based bilateral trade and investment agreement which will almost eliminate tariffs, reduce some important barriers to trade in services, extend government procurement rules to the sub-federal level, encourage regulatory coordination and establish important protections for foreign investors. These changes are likely to create substantial opportunities for suppliers and investors in both jurisdictions. In addition, they will create a benchmark for a much larger EU agreement. This article explores the implications of several of the most important EU-Canada provisions for international firms and their advisers. It also discusses the current status and potential scope of an EU-US agreement, considering the hurdles that may be encountered when attempting to negotiate tarrif reductions in areas where the US and EU have longstanding differences. The article will consider the three main pillars of negotiation for a US-EU deal: market acces, regulatory cooperation and rules.
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Originally published by Business Law International.
The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained.
© McMillan LLP 2015