MODALITIES OF SECURING POLICY AUTONOMY IN PREFERENTIAL TRADE AGREEMENTS

Abstract

After the collapse of multilateralism, states began concluding Preferential Trade Agreements with a rapid clip. However, balancing the benefits of liberalization with policy autonomy1 became a challenging issue. A topic that has gained less attention thus far is how parties employ various carve-out devices to secure their policy autonomy while expanding their markets. This study is the first to introduce modalities of securing policy autonomy in preferential trade agreements. We used typology to analyze this phenomenon and examine the extent to which parties can secure policy autonomy in each modality. The article also explains the comparative advantages and disadvantages of each modality, and illustrates the complex and difficult nature of selecting modalities.