EU trade policy has pursued a two-pronged strategy during past years,
increasingly seeking bilateral and regional trade agreements but supporting the
multilateral trading system. Much speaks for continuity here.
A recent example is the initiative by the EU and Canada to consider a more thorough reform of
investment governance and possibilities for a multilateral investment court ‒
which could help to address some of the issues with the current system and
facilitate consideration in trade agreements.
However, an overhaul of the
current system would require substantive global cooperation also beyond the
EU to be effective.