US Trade Representative Michael Froman signed the TPP in Auckland, New Zealand on Feb. 4 along with the Ministers from all nations part of the agreement. Photo credit: @usembassynz
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Graphic of the Week
Photo Credit: @EU_TTIP_team
The official announcement of the 12th round of TTIP negotiations was made this week. The negotiations will be held from 22 to 26 February in Brussels. This round of negotiations will focus on market access, regulatory cooperation, and rules.
During the same week, the Directorate General for Trade of the European Commission will organize two stakeholder engagement events. If you are interested in joining, please find more information on what topics will be covered and who is eligible to present here.
Speeches & Announcements
Remarks by President Obama and President Mattarella of Italy After Bilateral Meeting
“And from the work we’re doing together in Afghanistan, to the importance of maintaining our unified effort to bring about a peaceful resolution of the situation in Ukraine, to the opportunities that present themselves in finalizing a trade agreement through the T-TIP process, we agreed that joint and common action between the United States and Italy not only serves the interest of both our countries, but the broader transatlantic relationship that has underwritten so much peace and prosperity over the last several decades.” – US President Barack Obama
Italian President Mattarella is visiting the United States this week and met with President Obama in the Oval Office on Monday. In their remarks after the meeting, the presidents highlighted the importance of US-Italian cooperation in matters ranging from combating ISIL to finalizing TTIP. It was further mentioned that TTIP can help to avoid future economic and financial crises, which will be important for the developed and the developing world alike. (The White House)
News
European Union Faces Tough Sell on ISDS Compromise
EU Trade Commissioner Malmström’s ambitious alternative to the investor-state dispute settlement (ISDS) in TTIP is facing resistance from her US counterpart, USTR Mike Froman, who is questioning the need for an appeal tribunal. While the US business community expects the baseline for negotiations to be the dispute resolution model used in other recent trade deals, such as the TPP, a public consultation by the European Commission published in January last year showed an overwhelming majority of citizens are critical of a court system. Malmström’s proposal will be on the negotiating table for the first time in the 12th round of TTIP negotiations later this month. (Politico)
TTIP Trade Talks: German Judges Oppose New Investor Courts
Last week, the German Association of Judges (DRB) shot down the Investor Court System (ICS), Trade Commissioner Malmström’s alternative to the ISDS, stating there was “neither legal basis nor an actual need.” The Commission dismissed the criticism, stating that the proposal was based on suggestions from parliamentarians as well as stakeholders and that the ICS would only rule on matters of international law included in the agreement, not national or EU law. (BBC)
New Platform Maps Economic Impact of TTIP in the United States
The Bertelsmann Foundation and the McCain Institute for International Leadership launched an innovative tool that allows users to simulate and visualize the effects of the TTIP in employment, exports, and GDP across 20 sectors in each of the 50 US states. The web-based, interactive platform can simulate five different potential frameworks, each with a different level of ambition and is a unique effort to encourage an objective and data driven conversation about the potential agreement. The platform is set in theMcCain Institute’s “Decision Theater” in Washington. (Bertelsmann Foundation)
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Recent Analysis
TPP Signed – Good News for TTIP. The Global System is Changing Preferences
Writing for BlogActiv, a blog platform complementary to the news outlet Euractiv, Antonia Colibasanu interprets the signing of the TPP as a good sign for the conclusion of an ambitious TTIP, in that it shows a willingness of world powers to partake in ambitious trade agreements. However, the timing and differences of the two agreements are representative of the difference of the strategic goals for countries on either side of the Americas, and of shifting priorities of the global economy towards technologically based growth models. (BlogActiv.eu)
Outcome of the Transatlantic Trade & Investment Partnership Advisory Group
The consultative committee representing public stakeholders in the Transatlantic Trade & investment Advisory Group published the outcome of their last meeting, including the wish for increased access to consolidated texts for advisers, forward looking standards for regulatory practices, energy efficiency, and renewable energy standards that avoid negative impacts. Up to three negotiating rounds are set to take place before the summer, which will focus on detailed technical work in the rules and regulatory cooperation chapters. (European Commission)
The Transpacific Partnership – News & Analysis
Official Statement of Ministers after TPP Signing
On February 4, the ministers of the 12 member nations of the TPP signed the agreement in Auckland, New Zealand. This TPP Ministers’ statement emphasized that “TPP will set a new standard for trade and investment in one of the world’s fastest growing and most dynamic regions. Our goal is to enhance shared prosperity, create jobs and promote sustainable economic development for all of our nations.” (Office of the United States Trade Representative)
US Trade Representative Froman: TPP Will Set High Standards
After the official signing ceremony, Ambassador Froman was interviewed by CNBC on how he will convince Congress to ratify TPP, and how the deal will affect Americans and the global economy. Ambassador Froman emphasized that “This agreement allows us to open markets for our exports and to raise standards in those countries [low wage economies], so there is a more fair and level playing field,” and that he would “walk congress through to make sure they understand what’s in it and how it can benefit the constituents. (CNBC)
Watch the whole interview here.
Trans-Pacific Partnership Trade Deal Signed, but Signing does Not Mean Implementation
After the signing of the TPP, there is a two year window within which to ratify the trade agreement, and at least 6 nations that combined account for 85 percent of the GDP of all member nations must approve the agreement for it to be implemented. The GDP representation clause means that both the United States and Japan must sign the pact for it to be implemented. (Reuters)
The Bigger Picture – Trade in Action
Speech by Commissioner Phil Hogan at “Tastes of Europe” Seminar
This week, EU Commissioner for Agriculture, Phil Hogan, traveled with 30 representatives of Europe’s agricultural and food businesses to Columbia to discuss the large export-import potential of Columbia. During his speech at the “Tastes of Europe Seminar” he emphasized that trade and peace are the two pillars of strong and sustainable economic growth:”Buying and selling, innovating and competing – this is the beating heart of a healthy economy.” (European Commission)
EU Trade, Development Ministers Hold First Joint Gathering, Eyeing Increased Cooperation
Dutch Minister for Foreign Trade and Development, Lilianne Ploumen, hosted a meeting with Trade Commissioner Malmström and International Development and Cooperation Commissioner Neven Mimica to discuss the trade agenda of the Dutch presidency of the Council of the European Union. Among other things, they will focus on how to use the European Union’s substantial bargaining power in a responsible way to promote sustainable development, to improve global value chains (GVCs), and to utilize aid and trade tools to achieve sustainable growth. (International Center for Trade and Sustainable Development)
Turkish EU Minister: Updated Customs Union Agreement Will Double Trade Volume
Turkey and the European Union are setting the stage to renegotiate their Customs Union Agreement in the second half of 2016.Turkish Minister of EU Affairs, Volkan Bozkir, said that the updated deal has the potential to increase trade from $150 million to as much as $300 million. One of the key points will be Turkey’s automatic inclusion in Free Trade Agreements the European Union signs with third parties, i.e. TTIP. (Daily Sabah)
Upcoming Events
What is Europe’s Role in Today’s Globalized World? – February 19, with EU Trade Commissioner Cecilia Malström and French Secretary of State for Foreign Trade Matthias Fekl, at the Edgar Faure Amphitheater at the University of Paris-Dauphine – More Information
CETA, TTIP, Who Profits? – February 22, hosted by the Chamber of Labour for Vienna European Commission and the Austrian Society for European Politics, with EU Trade Commissioner Cecilia Malström, at the AK Bildungszentrum Great Hall, Vienna – More Information
TTIP Stakeholder Engagement – February 24, hosted by the Directorate General for Trade of the European Commission, at the 12th round of TTIP negotiations in Brussels – More Information
Britain, the EU and Global Trade – February 25, hosted by the Policy Network, with EU Trade Commissioner Cecilia Malström and French Secretary of State for Foreign Trade Matthias Fekl, in London –More Information
Opportunities and Potential of TTIP – February 29, 2016; hosted by the Bavarian Trade Union in Passau, Germany – More Information
A Road Map for European Growth with European Commission Vice President Jyrki Katainen – March 2, 2016; hosted by the Atlantic Council in Washington DC- More Information
Interdisciplinary Conference on the Transatlantic Trade and Investment Partnership – March 14 and 15, hosted by the Centre for European Research at the University of Gothenburg, in Gothenburg, Sweden –More Information
The next round of TTIP negotiations will take place the week of February 22, in Brussels. Want to refresh your memory on what has been discussed in the 11th round of negotiations? Red the detailed report here or the final day remarks here.