Open AccessCETA: A NEW STAGE IN THE DEVELOPMENT OF RELATIONS BETWEEN CANADA AND THE EUROPEAN UNION
Author(s) -
Larisa G. Chuvakhina
Publication year - 2018
Publication title -
vestnik astrahanskogo gosudarstvennogo tehničeskogo universiteta. seriâ: èkonomika
Language(s) - English
Resource type - Journals
eISSN - 2309-9798
pISSN - 2073-5537
DOI - 10.24143/2073-5537-2018-1-51-58
Subject(s) - tribunal , international trade , european union , treaty , investment (military) , liberalization , international economics , arbitration , trade agreement , goods and services , negotiation , free trade , international free trade agreement , foreign direct investment , business , economics , political science , economy , law , market economy , politics
The article is devoted to the problem of the developing the Comprehensive Economic and Trade Agreement. There have been shown the specific features of the Comprehensive Economic and Trade Agreement as a contract of a new type between Canada and the European Union. The ambiguous position of European countries in the course of the negotiations on the issue of concluding the Comprehensive Economic and Trade Agreement has been substantiated. It is underlined that after the release of the UK from the EU, the Agreement will be replaced by a new bilateral treaty between Canada and Great Britain. The main goal of creating the Comprehensive Economic and Trade Agreement is defined as liberalization of trade and economic relations. Along with the development of trade in goods, services trade and investment cooperation are identified as the leading areas of cooperation. The institutional structure of the Agreement has been considered. The investment-state mechanism for dispute settlement developed within the framework of the Agreement has beenanalyzed. To resolve investment disputes, the Agreement provides for the establishment of the investment tribunal, the appeals tribunal for investment, the arbitration court. Assessment of possible benefits and costs associated with the participation of EU countries in the Agreement has been given. The prospects for EU cooperation with Canada have been determined. It is emphasized that the Agreement opens new opportunities for European business in the matter of expanding exports to Canada; it creates conditions for qualified personnel from the countries of the European Union to seek work in Canada, because of the recognition of professional qualifications obtained in the member states of the Agreement. Canada's growing interest in expanding cooperation with European states was highlighted. The orientation towards the development of cooperation with Europe is largely explained by "cooling" in relations between the governmental and business circles of Canada and the United States. It has been referred that the American factor should be taken into account when studying the development of economic relations between Canada and the European Union.