The Representative of German Industry and Trade comments on transatlantic trade agreement


With regard to the announcement of US President Obama, EU Commission President Barroso and EU Council President Van Rompuy, to launch negotiations on a transatlantic trade and investment partnership, RGIT President and CEO Dr. Thomas Zielke comments:

“The German businesses on both sides of the Atlantic welcome the starting signal for the negotiations on a transatlantic trade agreement. A free trade initiative means important impulses for German-American economic relations. Once an agreement between the EU and the US is established, German exports are expected to grow a quarter of a percentage point.

President Obama’s announcement in his State of the Union address to improve the parameters for investments and the creation of value is an encouraging sign. He invites investment in America and commits himself to re-industrialization.

The crucial question to uphold the current optimism of German industry remains, however, if the United States – after the short-term compromise in sight of the fiscal cliff – will find a sustainable and long-term solution for the governmental budget problems.”