TTIP

Today, the EU and US finished 11th round of talks on the Transatlantic Trade and Investment Partnership (TTIP). Negotiators discussed all three pillars of what could be the biggest bilateral trade agreement in history, meaning market access for EU and US companies, regulatory cooperation and trade rules. The goal of the agreement is to slash trade taxes and facilitate trade between the two blocks with an aim to boost economic growth, create more job opportunities and modernise rules governing global trade.

The Commission today made public the report on the 10th round of negotiations for a Transatlantic Trade and Investment Partnership (TTIP), which took place from 13-17 July 2015 in Brussels. The text is now available online.

Please follow the link to access the study on TTIP: Opportunities and Challenges in the area of Technical Barriers to Trade, including Standards.

The study on TTIP: Challenges and Opportunities for the Consumer Protection can be accessed here.

Please follow the link to access a DG Trade booklet on TTIP: An overview and chapter-by-chapter guide in plain English.

For all the talk about new trade patterns, it is still important to cultivate old links. The share of total UK exports going to the Brics may have increased from 2.6 per cent to 9.1 per cent over the last 15 years (ONS, 2013), yet exports to the EU (45 per cent) and the US (17 per cent) still represent the bulk of British trade. This says a lot about the European single market’s significance and the potential impact of a Transatlantic Trade and Investment Partnership (TTIP).