The Transatlantic Trade and Investment Partnership (TTIP) is by far the most ambitious project in the field of contractual formats of regional economic cooperation, combining traditional measures to liberalize mutual trade with regulatory rules of economic activity on the territories of member states. If successful, this project will influence on the development of both the world economy and its regulatory mechanisms.
The Valdai Paper thoroughly and impartially examines the impact of TTIP possible establishment on the world and Russian economy, global economic governance and future of the WTO. The Paper analyzes TTIP not only as a challenge but also as an opportunity for Russia, the benefits that it can bring to its economic entities regarding relations with the EU, use of TTIP provisions to improve the regulatory regime in Russia, and to deepen integration within the EAEC.
The author concludes that the establishment of TTIP does not carry catastrophic consequences for Russia, it will not undermine the WTO, and after the signing of the agreement (if it ever happens) Moscow will have enough time to generate the optimal response.
About the author:
Sergey Afontsev, Dr. of Science (Economics), Head of the Economic Theory Department at the Primakov National Research Institute of World Economy and International Relations (IMEMO)of the Russian Academy of Sciences, Professor at the Moscow State Institute of International Relations (MGIMO).
