Asia and Europe Regulatory Connectivity and Coherence
Gill, Derek | August 2016
This paper addresses the state of regulatory connectivity between Europe and Asia (Asia–Europe Meeting [ASEM] countries). It explores the wide range of possible approaches to international regulatory cooperation and finds that implementation is often hard and there are no simple ‘silver bullet’ solutions. The best approach will depend on the goals, the contexts in the respective countries, and the balance of risks with each approach. The key policy implication is that countries should consider the full range of regulatory cooperation approaches, and use the least demanding form of international regulatory cooperation (IRC) required to achieve their objectives. Unilateral action to achieve regulatory convergence is an important tool for countries to consider first. The paper highlights how practice, driven forward by initiatives such as the Trans-Pacific Partnership, is leading theory. Theory is lagging as suitable frameworks are still being developed to adequately characterise the dimensions of IRC and the possible approaches. As cooperation is a long game, ASEM provides an important opportunity to identify the first initial steps that need to be taken.
CitationGill, Derek. 2016. Asia and Europe Regulatory Connectivity and Coherence. © New Zealand Institute of Economic Research. http://hdl.handle.net/11540/9215.
Trade And Development
Food Security And Trade
Regional development bank
Communication in rural development
Labor and globalization
Regional trading blocs
Foreign trade and employment
Foreign trade regulation