The trade aspects of the transatlantic cooperation between the EU, the USA and Canada
The trade aspects of the transatlantic cooperation between the EU, the USA and Canada

Summary/Abstract: The dynamics of changes occurring in the world economy, especially the world trade system has been undergoing profound transformations. One of them is an increasing tendency towards integration, resulting from setbacks within the World Trade Organization (WTO). In this context, the trade aspects of transatlantic relations between the EU and the US as well as Canada take on a new dimension. The European Union and the United States of America are each other’s key economic partners, but also the most developed and principal entities of the world economy. Over the years, they have had a major influence on the negotiations within the GATT/WTO system. Building the multilateral trading system in the context of an increased multipolarity of the global economy has many determinants. Without close integration of partners on both sides of the Atlantic and reinforcing their competitive position against other countries, maintaining the dominant role of the US-EU duo will prove to be extremely complicated. Trade and Investment Partnership (TTIP) currently under negotiation, could help these centres in regaining their key roles and strengthening their positions, which will not only boost the growth in the EU and the US, but also contribute to a greater impact on the multilateral trade system. The trade relations between the US and the EU constitute the foundation of the transatlantic partnership. We may not, however, discount another actor of these relations. Canada does not belong to the top trade partners of the EU, yet, all the efforts put in over the years have led to signing the Comprehensive Economic Trade Agreement (CETA), which is expected to be an advent of the whole new era in the mutual relations and greatly influence the current state of affairs. For the transatlantic cooperation CETA it is one of the key elements of the adopted agenda. It can also pave the way for the TTIP which will determine new frames of economic cooperation between the two largest world economies and become a fundamental turning point on both sides of the Atlantic.

• Details
• Contents