Multilateral liberalization of trade in the 21st century. The case of Transatlantic Trade and Investment Partnership

Mariusz Borkowski

Abstract

The article aims to examine currently occurring phenomena in the global economy. In particular, it focuses on processes connected to trade liberalization, precisely: the interplay of multilateral and regionalist efforts, the former governed by the World Trade Organization, and the latter led by the recent rise in mega-regional trade agreements. The main focus was put on the major example of such trade deal, the Transatlantic Trade and Investment Partnership (TTIP), as it carries the potential for becoming the biggest trade deal in history. By a desk research performed on both quantitative and qualitative data and information, namely: literature study, analysis of sources gathered from press, scientific journals and the internet, the paper showcases that ever-intertwined forces of regionalism and multilateralism in trade liberalization are yet to reveal the final form of modern trade relations, represented by TTIP in particular.