UK – EU FTA CPTPP 2018 EU- Japan 2019 CETA 2018 NAFTA 1994 WTO 1994 GATT 1947 TRADE AGREEMENT APPROACH • Outcome based approach • Many ways to achieve outcome (i.e. competition in regulation) • Downward pressure on tariffs and regulatory barriers • Increasingly uses deemed equivalence and regulatory recognition, including of underlying product regulation, to facilitate goods and services trade • Liberalising effect on rest of world COMPLETION OF SM DIGITAL SINGLE MARKET SINGLE MARKET IN SERVICES SINGLE MARKET IN GOODS CUSTOMS UNION IDENTICAL REGULATION APPROACH • Process based approach • Structurally agnostic about nature of regulation • Moving toward identical regulations across good and services within a bloc • Upward pressure on tariffs and regulatory barriers from interest groups • Agnostic about effect on rest of world ALTERNATIVE APPROACHES TO FACILITATING GLOBAL TRADE Shanker Singham, CEO, Competere For further information contact: [email protected] https://competere.co.uk/UK-EU-FTA INCREASING REDUCTION IN TARIFFS AND REGULATORY BARRIERS TO TRADE INCREASING SCOPE AND DEPTH OF REGULATORY CONVERGENCE

Alternative trade approaches

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UK – EU FTA

CPTPP 2018

EU- Japan 2019

CETA 2018 NAFTA 1994

WTO 1994

GATT 1947

TRADE AGREEMENT APPROACH• Outcome based approach • Many ways to achieve outcome (i.e. competition in regulation)• Downward pressure on tari�s and regulatory barriers• Increasingly uses deemed equivalence and regulatory recognition, including of underlying product regulation, to facilitate goods and services trade• Liberalising e�ect on rest of world

COMPLETION OF SM

DIGITAL SINGLE MARKET

SINGLE MARKET IN SERVICES

SINGLE MARKET IN GOODS

CUSTOMS UNION

IDENTICAL REGULATIONAPPROACH• Process based approach• Structurally agnostic about nature of regulation• Moving toward identical regulations across good and services within a bloc• Upward pressure on tari�s and regulatory barriers from interest groups• Agnostic about e�ect on rest of world

ALTERNATIVE APPROACHES TO FACILITATING GLOBAL TRADE

Shanker Singham, CEO, CompetereFor further information contact: [email protected] https://competere.co.uk/UK-EU-FTA

INCREASING REDUCTION IN TARIFFS AND REGULATORY BARRIERS TO TRADE

INCREASING SCOPE AND DEPTH OFREGULATORY CONVERGENCE