The potential impact of the Lisbon Treaty on European Union external trade policy

Abstract:

The ratification of the Lisbon Treaty will have quite significant implications for European Union external trade policy.
The most important change will be an increased role for
the European Parliament (EP). The EP will have an enhanced
role in trade negotiations in the sense that the Commission
will be formally obliged to consult with it on the conduct of negotiations. The EP will also have to give its consent to the adoption of the results of trade negotiations on a ‘take it or leave it’ basis, i.e. there are no powers for the EP to change or modify the results of a negotiation.3 Finally, regulations defining the framework for implementing EU trade policy will be passed using ‘ordinary legislative procedures’ (OLP). In other words both Council and EP must agree on such regulations. In OLP the EP will have powers to shape the content of the regulations, although the EU as a whole will of course still be obliged to comply with any World Trade Organisation (WTO) or other trade rules.