TTIP: more US market access, reform investment protection, retain EU standards
A EU-US trade deal should deepen EU access to the US market, but must not undermine EU standards or the right of the EU and its member states to regulate in the public interest, say Trade Committee MEPs in draft recommendations voted Thursday. Arbitration on dMechanism for resolving disputes s between investors and states should be reformed and improved, they add.
The draft recommendations to the Commission negotiators on the Transatlantic Trade and Investment partnership, approved in committee by 28 votes to 13 against and no abstentions, still need to be endorsed by Parliament as a whole.
Ambitious but balanced deal needed
EU GDP is “heavily dependent on trade and export” (CAM3), so a “well-designed” deal with the US could help boost the industry contribution to EU GDP from 15% to 20% by 2020, as EU firms, especially small, medium and micro enterprises, would benefit from a market of 850 million consumers (CAM6).
But at the same time, contradictory study findings make the TTIP’s real benefits for the EU economy hard to assess (CAM7), note MEPs. They therefore stress that the talks must be transparent, in order to deliver an “ambitious” but “balanced” deal, with shared benefits across EU member states, leading to an “effective, pro-competitive economic environment” and precluding non-tariff trade barriers. High levels of protection for EU consumers CAM 13 , their data, health and safety must be guaranteed, CAM32 and social, fiscal and environmental dumping must be prevented, they add CAM 14.
www.europarl.europa.eu/news/en/news-room/content/20150526...
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TTIP: more US market access, reform investment protection, retain EU standards
A EU-US trade deal should deepen EU access to the US market, but must not undermine EU standards or the right of the EU and its member states to regulate in the public interest, say Trade Committee MEPs in draft recommendations voted Thursday. Arbitration on dMechanism for resolving disputes s between investors and states should be reformed and improved, they add.
The draft recommendations to the Commission negotiators on the Transatlantic Trade and Investment partnership, approved in committee by 28 votes to 13 against and no abstentions, still need to be endorsed by Parliament as a whole.
Ambitious but balanced deal needed
EU GDP is “heavily dependent on trade and export” (CAM3), so a “well-designed” deal with the US could help boost the industry contribution to EU GDP from 15% to 20% by 2020, as EU firms, especially small, medium and micro enterprises, would benefit from a market of 850 million consumers (CAM6).
But at the same time, contradictory study findings make the TTIP’s real benefits for the EU economy hard to assess (CAM7), note MEPs. They therefore stress that the talks must be transparent, in order to deliver an “ambitious” but “balanced” deal, with shared benefits across EU member states, leading to an “effective, pro-competitive economic environment” and precluding non-tariff trade barriers. High levels of protection for EU consumers CAM 13 , their data, health and safety must be guaranteed, CAM32 and social, fiscal and environmental dumping must be prevented, they add CAM 14.
www.europarl.europa.eu/news/en/news-room/content/20150526...
These photos are free to use under Creative Commons licenses and must be credited: "© European Union 2015 - European Parliament" (Attribution-NonCommercial-NoDerivatives CreativeCommons licenses creativecommons.org/licenses/by-nc-nd/4.0/). If you need higher resolution files do not hesitate to contact us. Please do not forget to send the link or a copy of the publication to us: webcom-flickr(AT)europarl.europa.eu