More Trade and Less Investment for Future EU Trade and Investment Policy

The decision of the Court of Justice of the European Union (CJEU) in Opinion 2/15 was eagerly awaited as it was expected to bring much needed clarity to the scope of the post-Lisbon common commercial policy (CCP), and the exercise of European Union (EU) trade and investment policy more generally. At issue was the extent to which the EU is endowed with exclusive competence over the free trade agreement between the EU and Singapore (ESUFTA).1 A finding of exclusive EU competence over the agreement would empower the EU to conclude EUSFTA-type agreements without the involvement of national parliaments. By contrast, a finding of shared competence presupposes a political compromise in the Council to enable the EU to conclude the agreement alone;2 and in the event that parts of the agreement fall outside