This paper explores the wide range possible approaches to International Regulatory Co-operation (IRC) between Asia-Pacific and European countries. The paper highlights how practice, driven forward by initiatives such as the Trans-Pacific Partnership, is leading theory. Theory is lagging as suitable frameworks are still being developed to adequately characterise the dimensions of IRC.
The key policy implication is that countries should consider the full range of regulatory cooperation approaches, and use the least demanding form required to achieve their objectives. Unilateral action to achieve regulatory convergence is an important tool for countries to consider first.
Link to report.