Executive summary  7

List of abbreviations  11

1 Introduction  15

2 Context and categorisation of EU MTDs  20

2.1 The Cernat taxonomy  21

2.2 The Claussen framework: US comparisons and constitutional tensions  21

2.3 The National Board of Trade Sweden Taxonomy  22

2.4 Novelty versus continuity  25

3 Binding but sectoral: Sustainable investment facilitation agreements  26

3.1 Content and scope  27

3.2 Procedure and stakeholder involvement  29

3.2.1 Business and investor interests  29

3.2.2 Partner country perspectives  30

3.3 Implementation  30

3.4 SIFAs and the EU's free trade agreements  31

3.5 SIFAs and the larger EU-ACP Partnership Framework  32

3.6 EPAs and SIFAs: Complementarity and gaps  32

3.7 The risk of fragmentation  33

3.8 The WTO's IFD Agreement and the EU-Angola SIFA  33

4 Critical raw materials memoranda of understanding  34

4.1 Content and scope  34

4.2 Procedure and stakeholder involvement  37

4.3 Implementation  38

4.4 Thematic content: Common pillars, variable depth  39

4.5 Governance, sustainability and reputational risks  39

5 Clean trade and investment partnerships  40

5.1 Origins and policy context  40

5.2 The EU-South Africa CTIP  41

5.3 CTIP and CRM MoUs  42

5.4 Added value in the presence of existing FTAs and EPAs  43

5.5 The twin transition lens: Specific potential and limitations  44

6 Cross-cutting governance issues  44

6.1 The legal character of EU mini trade deals: A cross-cutting assessment  44

6.2 The role of the European Parliament  45

6.3 Transparency deficits, Member State involvement and the maintenance problem  50

7 Third-country approaches: A comparative assessment  51

7.1 The comparative framework  51

7.2 Japan: Institutional depth as competitive advantage  52

7.3 The United States: Speed, scale, and the limits of bilateralism without institutions  53

7.4 Australia: Supply-side ambition and domestic constraints  55

7.5 EFTA's joint declarations on cooperation  56

7.6 The G7 CMAP: Multilateral coordination as complement and constraint  57

7.7 Cross-cutting comparative assessment  57

8 Strategic effectiveness and the geopolitical context  59

8.1 The efficiency argument for MTDs  59

8.2 Strategic importance and risks  60

8.3 The measurement problem: Progress without indicators  60

Role and impact of the latest generation of EU mini trade deals, such as clean trade and investment partnerships

5

9 Conclusions: Advantages, disadvantages, and a path forward  61

9.1 The case for and against non-binding instruments  61

9.2 A graduated transition: From non-binding to binding over time  62

9.3 Conclusions  63

9.4 Recommendations  64

10 References  68

11 Annex I: The EU's digital partnerships: Agreements and MoUs  75

11.1 Introduction  75

11.2 Key partner countries and regions  76

12 Annex II: The EU's agreements in energy and climate policy  82

12.1 Overview  82

12.2 Key partner countries and regions  82