TTIP Action | May 14
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Turkish Economy Minister Nihat Zeybekci and European Commissioner for Trade Cecilia Malmström hold a press conference following their meeting at the European Commission in Brussels, on May 12, 2015

Speeches & Official Announcements

EU Trade Policy: Driven by People’s Needs, Responding to their Concerns

“TTIP will help us strengthen our ties in order to make sure we have a strong voice in setting the global rules of trade. The ‘P’ in that acronym stands for partnership. A partnership for leadership is what we are trying to build. If we don’t lead, others will.” – Cecilia Malmström
EU Trade Commissioner Cecilia Malmström spoke at the Belgian Parliament last Tuesday on a range of EU trade policy issues, specifically focusing on TTIP. She appealed to the Belgian Members of Parliament to explain TTIP negotiations to their community in order to foster a debate based on facts. Not only does TTIP give Europe a chance to improve people’s lives by creating new economic opportunity, but it also puts in place effective regulation based on international cooperation while strengthening and protecting European values through a deepened alliance with a partner that shares the same values. (European Commission)

USTR Froman, Congresswoman Terri Sewell, and Alabama Secretary of Commerce Greg Canfield Highlight Alabama’s Exports

“Increasing Made-in-America exports is a key priority of President Obama’s Middle Class Economics agenda, and Alabama is an exporting powerhouse. I appreciate Congresswoman Sewell’s invitation to be here and see first-hand how Alabama’s exports are supporting well-paying jobs all over this state and discuss how we can unlock more economic opportunities to benefit workers, farmers, and businesses” – US Trade Representative Michael Froman
US Trade Representative Michael Froman visited Montgomery Monday at the invitation of Congresswoman Terri Sewell to showcase how Alabama’s exports are bolstering the local economy and to illustrate how Made-in-America exports are unlocking economic opportunities for people from Alabama and supporting well-paying jobs across the state. It was emphasized that the priority was to connect Alabama businesses to potential investors and partners in the global market, as these would trigger growth and create prosperity at home. (USTR)

EU and Turkey Announce Modernization of Custom Union

“We need to modernize our Custom Union with Turkey and bring it into the 21st century. This initiative will boost EU-Turkey commercial relations.” – Commissioner Cecilia Malmström
EU Trade Commissioner Cecilia Malmström and Turkish Minister of the Economy Nihat Zeybekci agreed to modernize the twenty year old Customs Union and enhance EU-Turkey bilateral trade relations. Both sides will now undertake their respective internal procedures to adopt this initiative and seek the corresponding negotiating mandates. Turkey is a candidate country and accession negotiations with the EU are ongoing. However, the enhancement of bilateral trade relations is not an alternative to the accession negotiations of Turkey, but complementary to it. (European Commission)

News

TTIP Falters After Senate Blocks Obama on Free-Trade Initiative

On Tuesday, US Senate Democrats blocked TPA, disapproving of the measure’s failure to punish currency manipulation and absence of protections for American workers impacted by globalization. Paradoxically enough, the number of democratic voters who see trade positively has shot up from 36 percent to 61 percent since 2008. Public support for foreign trade is high in the US: 58% of Americans see it as an opportunity, and only 33% see it as a threat. (Euractiv)

TTIP Action Partner

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Recent Analysis

TTIP: Why the EU-US Trade Deal Matters

BBC’s Andrew Walker points out that the Center for Economic and Policy Research’s estimated potential gains for the EU equal up to 119 billion euros a year were TTIP to successfully pass. While there are controversial issues surrounding the trade agreement, there is much to gain, especially given how slow the alternatives are. Frustration with the slow pace of the global trade negotiation under way at the WTO has led many countries to pursue bilateral and regional deals. (BBC)

What the Senate’s Anti-TPP Vote Tells the World

Stephen Stromberg, a Washington Post editorial writer, points out that while many in Asia look up to the United States, they worry about the American impulse to look inwards. Last Tuesday, the US Senate stoked these fears by opposing TPA. Stromberg notes that if Congress shuts down TPP, other nations will doubt American reliability while continuing to make deals with one another, with or without the United States. (Washington Post)

How ‘Top Gun’ Explains the TPA Trade Bill

Foreign Policy’ s Mark Kennedy likens what happened in the Senate with TPA last Tuesday to the final scene of Tony Scott’s Top Gun where Maverick, having just lost Goose, hesitates before helping his colleague Iceman protect a wounded US Navy Ship. In America, many are anxious over the economic losses technology and increased global competition have brought about, and when President Obama called the US Congress in to help, they – like Maverick – hesitated. Hopefully, the end of Top Gun will foretell America’s economic future. (Foreign Policy)

Trade Deals and the Pursuit of Geoeconomics

Peter Rashish, Senior Trade Advisor at Transnational Strategy Group, notes that trade deals are happening under conditions of what could be called ‘hyper-globalization’. Due to the increasing diversity in the global economy, the WTO’s Doha Round of trade negotiations has been slow in its progress. It is up to TPP and TTIP to serve as models for how trade can be organized at a global level – without them neither the status quo nor protection against hyper-globalization will exist. (The Globalist)

The Post-Crisis Transatlantic Economy: Revisiting the Ties that Bind

Daniel Hamilton and Joseph Quinlan present eight indices that convey a more complex and complete picture of US-EU engagement than mere trade data may suggest. While transatlantic trade in goods is significant in its own right, foreign direct investment and foreign affiliate sales of both goods and services, not trade, represent the backbone of the transatlantic economy. (Transatlantic Relations)

Evaluation of the Effects of the Free Trade Agreement between the European Union and Mexico on Bilateral Trade and Investment

BBVA Research published a report presenting an estimation of the impact of the FTA between the EU and Mexico, analyzing the further benefits from an extension of the trade deal to including agricultural products. The implementation of the treaty benefits the commercial flow of the goods for which each region presents a comparative advantage, an argument also applicable for both the TPP and TTIP agreements currently under negotiation. (BBVA)

Upcoming Events

Global Commerce: New Trends and Opportunities in the Americas and Beyond – May 14 in Houston, TX; hosted by the Atlantic Council and Baker & McKenzie – More Information

A Discussion with the Czech Republic’s Minister of Industry and Trade, Jan Mladek – May 14 in Washington DC; hosted by the Atlantic Council – More Information

Working for All? New Ideas and Innovative Strategies to Enhance Economic and Social Benefits in Trade Agreements – May 14 in Washington DC; hosted by the George Washington University and the ILO – More Information

2nd Annual NFTC London Trade and Investment Forum – May 15 in London, hosted by the National Foreign Trade Council – More Information

TTIP and Health Stakeholder Meeting – May 27 in Brussels, hosted by the European Commission – More Information

Economy & Business Trade