Cecilia Malmström, Commissioner for Trade, tried to explain the benefits in order to convince those against TTIP or with some concerns talking about the economic and strategic benefits of this agreement, how the EU is addressing people’s concerns and working together to deliver sustainable solutions, making sure that citizens’ voices are heard in national and European decision making.
Regarding the first point, economic and strategic benefits, she argued that more open markets mean new export opportunities that require new workers, making companies more competitive. TTIP will help companies competing for public procurement contracts in the US and reduce or eliminate almost all tariffs, making at the same time, as Malmström exposed, EU and US regulation more compatible. And the legal range she was referring to included matters from safety requirements for products to capital requirements for banks –and governments are demanding international rules on that-.
Her main interest was to express their commitment to deliver a proper answer to all the demands they are receiving, assuring that both parties in the agreement, EU and US, are in seek for the same things from global rules: strong regulatory protections for the environment, consumers, health & safety, and other interests, while working for open markets for goods, services, raw materials and energy.
They have set out limits on regulatory cooperation in the proposals they made to the United States, and the main limit is stated in one sentence: “Nothing in this agreement will water down EU regulation that protects people or the environment, now or in the future, being sure that from Europe we are free to set our rules ourselves”.
She continued by proposing a deeply reformed version of the investment arbitration system known as Investor-State Dispute Settlement (ISDS). “I want a system that promotes job-creating investment in the public interest, but one that doesn’t give unfair influence to private companies”. Cecilia Malmström, as she ended her speech, said that she was responding to people’s concerns by having made these negotiations more transparent than any other bilateral agreement in the EU’s history, while confirming that will get a TTIP deal that boosts the European economy, creates jobs for people, and strengthens the EU voice in the world.
source image: www.euintheus.org