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Potential Benefits of an Australia-EU Free Trade Agreement: Key Issues and Options A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Drake-Brockman, Jane (Ed.); Messerlin, Patrick A. (Ed.) Book — Published Version Potential benefits of an Australia-EU free trade agreement: Key issues and options Provided in Cooperation with: University of Adelaide Press Suggested Citation: Drake-Brockman, Jane (Ed.); Messerlin, Patrick A. (Ed.) (2018) : Potential benefits of an Australia-EU free trade agreement: Key issues and options, ISBN 978-1-925261-60-8, University of Adelaide Press, Adelaide, http://dx.doi.org/10.20851/eu-trade This Version is available at: http://hdl.handle.net/10419/191564 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. https://creativecommons.org/licenses/by-nc-nd/4.0/ www.econstor.eu Potential Benefits of an Australia-EU Free Trade Agreement: Key Issues and Options Share this book Thehigh-quality paperback edition *** of this book is *�* available for *,..._* purchase from * ..* www.adelaide.edu. *** au/press Suggestedcitation: Drake-Brockman, J and Messerlin, P (eds) (2018). PotentialBenefits ofan Australia-EUFree Trade Agreement: Key Issues and Options. Adelaide: University of Adelaide Press. DOI: http:/ /dx.doi.org/10.20851/eu-trade License: CC-BY-NC-ND 4.0 Potential Benefits of an Australia-EU Free Trade Agreement: Key Issues and Options Edited by Jane Drake-Brockman and Patrick Messerlin Published in Adelaide by University of Adelaide Press Barr Smith Library The University of Adelaide South Australia 5005 [email protected] www.adelaide.edu.au/press The University of Adelaide Press publishes peer reviewed scholarly books. It aims to maximise access to the best research by publishing works through the internet as free downloads and for sale as high quality printed volumes. © 2018 The Contributors. This work is licenced under the Creative Commons Attribution-NonCommercial- NoDerivatives 4.0 International (CC BY-NC-ND 4.0) License. To view a copy of this licence, visit http://creativecommons.org/licenses/by-nc-nd/4.0 or send a letter to Creative Commons, 444 Castro Street, Suite 900, Mountain View, California, 94041, USA. This licence allows for the copying, distribution, display and performance of this work for non-commercial purposes providing the work is clearly attributed to the copyright holders. Address all inquiries to the Director at the above address. For the full Cataloguing-in-Publication data please contact the National Library of Australia: [email protected] ISBN (paperback) 978-1-925261-59-2 ISBN (ebook: pdf) 978-1-925261-60-8 DOI: http://dx.doi.org/10.20851/eu-trade Book and cover design: Zoë Stokes Cover image: Depositphotos Contents Acknowledgements vii List of Contributors ix Abbreviations xv List of Figures and Tables xxiii Preface xxvii Jane Drake-Brockman and Patrick Messerlin Part 1: Australia, Europe, Asia: Evolving Commercial 1 Diplomacy 1 Australia and the European Union: A Brief Commercial 3 History Gonzalo Villalta Puig 2 An Australian Perspective on the Australia-EU Free Trade 9 Agreement Jane Drake-Brockman 3 A European Perspective on the Australia-EU Free Trade 37 Agreement Patrick Messerlin and Jimmyn Parc 4 What Difference does Brexit Make? 61 L. Alan Winters 5 How might the Trans-Pacific Partnership Affect the Game? 75 Yose Rizal Damuri 6 Limits to European Union Negotiating Competence 95 Pascal Kerneis Potential Benefits of an Australia-EU Free Trade Agreement Part 2: 21st Century Bilateral Negotiating Challenges 103 7 Global Value Chains 105 Richard Pomfret and Patricia Sourdin 8 Government Procurement 123 Bernard Hoekman 9 Regulatory Cooperation 149 Peter Mumford 10 Agriculture and Food Trade Policy 169 Kym Anderson, AC 11 Foreign Investment and Innovation 189 Shandre Thangavelu and Christopher Findlay Part 3: Services in the Digital Age 209 12 E-Commerce and Digital Trade 211 Hosuk Lee-Makiyama 13 Audio-visual Services 225 Jimmyn Parc and Patrick Messerlin 14 Professional Services 245 Pascal Kerneis 15 Financial Services 259 John Cooke Part 4: Where to on Investor-State Dispute Settlement? 279 16 Investor-State Dispute Settlement 281 Julien Chaisse and Yves Renouf vi Acknowledgements This book is the outcome of a signature research project undertaken by the European Union (EU) Centre for Global Affairs in the Institute for International Trade, The University of Adelaide, with support from the EU External Action Service. The editors wish to show their appreciation for the collective effort of the team which helped make this publication: Maria Leaver, freelance copyeditor, for her attention to the technical aspects of the writing; research assistants Robert Monterosso and Semen Zyrianov (The University of Adelaide) for support and guidance with referencing and presentation of figures and tables. List of Contributors Kym ANDERSON AC is the George Gollin Professor of Economics at The University of Adelaide, where he has been affiliated since 1984. Previously, he was a Research Fellow at the Australian National University (ANU) (1977-1983), following doctoral studies at the University of Chicago and Stanford University, and in 2012, he rejoined ANU part-time as a Professor of Economics in the Arndt-Corden Department of Economics of the Crawford School of Public Policy. He was on extended leave at the Economic Research division of the General Agreement on Tariffs and Trade (GATT) Secretariat in Geneva during 1990 to 1992 and at the World Bank’s Research Group in Washington DC as Lead Economist (Trade Policy) during 2004 to 2007. During 2010 to 2017 he was on the Board of Trustees of the International Food Policy Research Institute (Washington DC), chairing it from 2015. He has published more than 400 articles and 40 books, which have received numerous professional awards. He was awarded a Companion of the Order of Australia (AC) in 2015. Julien CHAISSE is Professor, Faculty of Law and Director, Centre for Financial Regulation and Economic Development, at The Chinese University of Hong Kong (CUHK). Professor Chaisse is a specialist in international economic law with particular expertise in the regulation and economics of foreign investment. His research also covers WTO law, international taxation and the law of natural resources. Before joining the CUHK Law Faculty in 2009, he served in the French Ministry of Foreign Affairs and started his academic career in Europe. John COOKE is Chairman of the Liberalisation of Trade in Services (LOTIS) Committee at TheCityUK, which represents UK financial and related professional services. He is also a Deputy Chairman of the Policy Committee of the European Services Forum (ESF) and a member of the Advisory Council of the European Centre for International Political Economy (ECIPE). From 1997 to 2003, he was Head of International Relations at the Association of British Insurers. His Potential Benefits of an Australia-EU Free Trade Agreement earlier career (1966-1997) was with the United Kingdom (UK) Department of Trade and Industry where most recently he was Adviser on Trade Policy and Chairman of the OECD Trade Committee. He is a contributor to conferences and seminars on international trade policy and trade in services. He has published articles on international services liberalisation and regulatory issues under various imprints and was the principal author of ‘Future UK Trade and Investment Policy: TheCityUK submission’ (January 2017). Yose Rizal DAMURI is Head of the Department of Economics, Centre for Strategic and International Studies in Jakarta, Indonesia. Dr Damuri’s research activities focus on international trade, regional integration and globalisation of value chains. He is active in research and advisory networks both in Indonesia and in East Asia, including the Indonesian Services Dialogue and the Asia-Pacific Research and Training Network on Trade (ARTNeT), while also acting as a Co-Chair of the Indonesian Committee for Pacific Economic Cooperation (PECC). He also teaches International Economics courses at the University of Indonesia. Dr Damuri received his Bachelor of Economics from the Faculty of Economics, University of Indonesia. He continued his study at the National Centre for Development Studies, ANU, Canberra and attained his Master of Economics of Development. He received his PhD in International Economics from the Graduate Institute of International Studies, Geneva, Switzerland. Jane DRAKE‑BROCKMAN is a Professor with the Institute for International Trade and former Director, European Union (EU) Centre for
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