Memorandum on Trade Promotion Authority
With regard to the upcoming negotiations on the Transatlantic Trade and Investment Partnership (TTIP), the possibility of granting Trade Promotion Authority (TPA) to the President is being discussed. The attached memorandum outlines the accelerated TPA procedure.
The final report of the HLWG: EU and US to launch negotiations for a transatlantic trade and investment partnership
On February 11, 2013 the United States-European Union High Level Working Group on Jobs and Growth (HWLG) published its final report on transatlantic trade and investment.
The HLWG has analyzed a wide range of options for expanding transatlantic trade and investment and conclusively recommends leaders of the US and EU to launch negotiations on a comprehensive trade and investment agreement. The aim is to further strengthen the successful economic relationship which is essential to the world economy, contributing nearly half of the world GDP and 30 percent of world trade.
The comprehensive agreement would imply modernized trade rules that are globally relevant as well as additional bilateral market openings in goods, services and investment. In order to eliminate existing trade barriers and enable further deepening of economic integration, the HLWG points out the necessity of innovative approaches, creativity and flexibility on both sides.
The report states that ambitious outcomes should cover three 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.
The Association of German Chambers of Industry and Commerce (DIHK) expects that German exports will grow by 3 to 5 billion Euros yearly with an agreement.
For further information please refer to the following links:
US-EU High Level Working Group presents interim report on transatlantic trade and investment
On June 20, 2012 the US-EU High Level Working Group on Jobs and Growth (HLWG) published its interim report on how to spur transatlantic trade and investment.
The group, consisting of representatives of the USTR and the Department of Commerce as well as representatives of the European Commission, therein calls for a comprehensive and ambitious transatlantic agreement as the preferred option. RGIT supports this outcome enthusiastically. Issues like tariff reduction, regulatory cooperation and non-tariff trade barriers, public procurement, services, investment and intellectual property are quite rightly put in the report’s focus.
For the first time US President Obama made a public statement on the matter. In a joint press release with EU Commission President Barroso und EU Council President Van Rompuy he welcomed the transatlantic initiative.
The HLWG has announced to publish the final report until December 2012. Therein the group wants to present concrete recommendations for the US Administration and EU Commission that will lead to the uptake of negotiations on a transatlantic trade agreement. According to the report, the cooperation and coordination with private stakeholders will be further pursued.
The HLWG was established at the EU-US summit last November to explore options to spur transatlantic trade and to reduce existing trade barriers. Chairmen are EU Commissioner Karel de Gucht and United States Trade Representative Ron Kirk. The interim report can be downloaded here. The European Commission is currently carrying out a public consultation until September 27th that can be downloaded here.
BDI and DIHK submit comments on U.S.-EU High Level Working Group on Jobs and Growth to the European Commission
BDI and DIHK submitted comments on the work of the U.S.-EU High Level Working Group on Jobs and Growth, responding to a request by DG Trade. Please find their contributions below.