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    Trade And Investment Enhancement Agreement

    Saturday 19th December 2020

    The EU and Canada, as expressed in the EU`s “Better Legislate” package and Canada`s European Smart Regulation Initiative, are committed to ensuring a high level of protection for their citizens and the environment, while ensuring transparency, performance and cost-effectiveness of the rules. In this regard, the EU and Canada recognize the value of regulatory cooperation developed within their domestic procedural and material obligations to promote information exchange and increase mutual knowledge of regulatory practices, including increased use of best practices, improve the effectiveness of regulatory initiatives and facilitate trade and investment. Trade relations between the United States and Uruguay have grown considerably in recent years. In 2002, Uruguay and the United States established a Joint Trade and Investment Commission (JCTI) to exchange information on a wide range of economic issues. The Commission used the two countries as an important mechanism to improve and expand their trade relations and facilitated successful negotiations on the bilateral investment treaty between the United States and Uruguay (ILO), which came into force on 1 November 2006. The United States and Uruguay signed the TIFA between the United States and Uruguay on January 25, 2007. TIFA has established the U.S. and Uruguay`s Trade and Investment Council (ICT) and serves as a mechanism for deepening the dialogue on trade and investment. On October 2, 2008, the two governments signed TIFA protocols that cover key commitments to facilitate trade and public participation in trade and the environment. TiFA contains an annex that sets out a work programme inviting both governments to address issues such as bilateral trade liberalization and bilateral investment, intellectual property rights, regulatory issues, information and communications technologies and e-commerce, trade facilitation, trade and technical capacity building. , trade in services, public procurement and health and health protection cooperation.

    The appendix provides for ICT to add other points to the work programme. In implementing TIFA, both sides reaffirmed their determination to expand economic opportunities between Uruguay and the United States, while coordinating their efforts to promote greater trade liberalization by the World Trade Organization (WTO). Following instructions from the Heads of State and Government at the Canada-EU Summit in Ottawa on December 19, 2002 to “develop a new type of large-scale and future bilateral trade and investment agreement,” the European Commission and the Canadian government worked to define the scope and key objectives of such an agreement. The “Energy and Commodities” (EKM) chapter has just been included in trade agreements that were first highlighted in the EU-Ukraine agreement, but which only really take shape in the context of the TTIP negotiations and the subsequent agreement, such as the EU-Indonesia.

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