30 June, 2013
Position Paper on the Transatlantic Trade and Investment Partnership
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I- The importance of the Transatlantic Trade and Investment Partnership
On February 13th, the EU and the US announced plans to start negotiations on a Transatlantic Trade and Investment Partnership (TTIP). This decision is very much welcome. As the economies on both sides of the Atlantic are struggling, improving the conditions for trade and investment between the EU and the US can become an additional source of growth and prosperity. Enhancing economic ties through an agreement could bring overall annual gains of 0.5% increase in GDP for the EU and a 0.4% increase in GDP for the US by 2027. This would be equivalent to €86 billion of added annual income to the EU economy and €65 billion of added annual income for the US economy1. Furthermore, a successful conclusion would certainly strengthen the competitiveness of our economies in the global market place.
Negotiations will aim to achieve ambitious outcomes in three broad areas: a) market access; b) regulatory issues and non-tariff barriers; and c) rules, principles, and new modes of cooperation to address shared global trade challenges and opportunities.
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Download the full Reflection Document here.
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1 Source: European Commission, DGTrade.
