Integrating regulatory cooperation into trade agreements is a way for trade negotiators to address the broader problem of „non-tariff barriers.“ A necessary condition for an equivalent approach is trust: there must be a pre-assessment procedure or evaluation of regulatory objectives and the implementation regime in the relevant legal systems, which leads to an equivalent judgment. The equivalency model has significant benefits in terms of learning, tracking upstream and downstream performance, and adopting more effective or effective regulatory approaches over time, improving regulatory outcomes. An important element of the approach should be the convergence over time towards similar or common technical standards and regulatory approaches to application… Order alignment requires the identification of regulatory areas and related implementation systems that pursue similar objectives and have similar results. (Ibid.: 614-615) CETA appears to have focused on content convergence rather than on the parties` national regulatory processes. For example, other parties may vote on the proposed regulatory changes, but private stakeholders do not have guaranteed participation, as their participation is optional for both the EU and Canada. Footnote 44 Another example of this priority is the preference for simultaneous or joint risk assessments and regulatory impact assessments, the search for harmonized, equivalent or compatible solutions, and the application of mutual recognition in some cases. Footnote 45 To date, MERCOSUR does not have a permanent structure that requires harmonization of rules. The impact of the regional grouping has been small, although some progress has been made on issues such as intellectual property, competition law and trade in services (Falcén 2005: 45-46). In some areas, such as the automotive industry, regulatory integration has been achieved through the adoption of voluntary standards approved by MERCOSUR countries, but private sector interests have generally exerted the dominant influence on their creation (Moisés and Jacoby, 2014: 187).
In PAAP and TPP, each party should encourage its relevant regulatory authorities to review regulatory actions taken in other parties, as well as relevant developments in international, regional and other for a, where planning covered regulatory measures, but only to the appropriate extent and in accordance with their law. Footnote 48 The checklist has four pillars: (i) regulatory policy; (ii) competition policy; (iii) market liberalisation policy; and (iv) regulatory reform. Regulatory guidelines will be developed to maximize efficiency, transparency and accountability, based on an integrated approach to the rule-making process (Bollyky, Reference Bollyky, Lim, Elms and Low2012: 174-176). Competition policy should promote economic growth and efficiency by eliminating or minimizing the distorting effects of laws, regulations and administrative practices (ibid.). The market liberalization policy aims to ensure that a country can enjoy the benefits of globalization and international competition by eliminating or minimizing the distorting effects of border rules and practices (APEC-OECD, 2-3 in 2005). Finally, regulatory reforms must be developed horizontally in the form of a „reflection on the degree of integration of regulatory policies, competition and market opening at all levels of government and on accountability and transparency mechanisms,“ Footnote 10 The ANZCERTA approach aims at a much deeper level of integration , with regulatory harmonization features such as a common food standards regulator (founded in 1995), an agreement on mutual recognition of product standards and professional qualifications (Trans-Tasman Mutual Recognition Arrangement 1997) and a Common Food Regulatory Code (FANZS) 1999) (Sheargold and Mitchell, Reference Sheargold and Mitchell2016):