“TTIP can boost the European project”; the Sting reports live from EBS 2015 on TTIP

European Sting shot at European Business Summit 2015, TTIP session. Daniela Vincenti is Editor in Chief of Euractiv. @ European Sting

European Sting shot at European Business Summit 2015, TTIP session. Daniela Vincenti is Editor in Chief of Euractiv. @ European Sting


As many were expecting, discussions over the Transatlantic Trade and Investment Partnership (TTIP) had a high priority at this year’s European Business Summit 2015. Almost immediately after the kick-off of the prestigious summit last week in Brussels, which completed its 15th anniversary this year, an interesting EU-US trade agreement tailor made session was launched.

“Is the TTIP compatible with the European Project?”, was the title of the session which was moderated by Daniela Vincenti, EurActiv’s Editor in Chief, last Wednesday’s afternoon. The European Sting was certainly there to report.

Jean-Luc Demarty, Director General for Trade at the European Commission has no doubts that “TTIP is about completing the European Union’s project”. Mr. Demarty focused his speech on pushing back critics of TTIP who believe that is lowering European standards and flattening the Old Conitnent’s diversity into a single “Transatlantic market” with the US. “TTIP is totally not about creating a single Transatlantic Market – I want to be clear – and not about lowering European standards”, he stressed.

Mrs. Luisa Santos, Director for International Affairs at BusinessEurope soon echoed him. “The TTIP is an agreement that can boost, actually that can re-launch the European project, from many aspects!”, she said at Palais d’Egmont last week. “TTIP is not a question of lowering the current EU standards, it is all about finding new opportunities for our economy maintaining the current standards, particularly for our small and medium businesses”, she underlined, before adding that Europe does not want the US to become the “29th country” of the Union, and so to create a flat Transatlantic market – as many critics are warning – but “just” to improve the situation through dialogue and new opportunities.

At the end of the meeting, Mrs. Santos was questioned by the European Sting and challenged on a particularly delicate question: we asked her “if she feels that an alleged lack of commitment by the EU was perceived at the other side of the Atlantic, since the debate in the Old Continent has become particularly harsh and some member states are allegedly losing interest in this mammoth trade agreement – as the Sting has recently reported. Her reply to that was clear-cut: “Discussions are at the same stage on both sides”, she said.

“The US is no uniformed market, and they have internal dissent, as long approval procedures through several institutions, as we do. We simply have a different approach”, she continued. We also cared to ask if she thinks that other international players, like the US in this case, might think that doing business with the EU always involves long periods of negotiation to have even a pre-agreement, and whether the EU’s approval procedures may be a bit too slow, also because of a complex regulation. Mrs. Santos replied that the EU has the same problems of the world’s other key players that have variegate economic textures. “We are perceived as a reliable, strong partner for trade”, she reaussured.

Richard Elsner, author, consultant for many companies and entrepreneur, does not exactly share the same view according to what he has declared during that EBS session. “My top-line thought is that we have to simplify regulation and processes if we really want to help business and facilitate agreements”, he said. He also pointed attention to SMEs, and criticised the EU-US trade agreement as it currently stands.

“There’s a lot to do to help SMEs inside negotiations – TTIP at the moment has too many aspects which are against the small businesses’ interests! 66% percent of the EU’s workers are employed in SMEs, and the EU has to simplify procedures and business itself if it want to answer this call”. “Here regulations are higher than in the USA in too many sectors and we simply have to change this”, Mr. Elsner warned.

TTIP, which is believed to boost the EU’s economy by €120 billion and the US economy by €95 billion (equal to 0.5% and 0.4% of GDP respectively), is currently encountering strong criticism widely for many controversial aspects, like the ISDS clause, the mechanism that would allow corporations to sue governments in tribunals if they believe to have been obstructed by local laws.

Many TTIP opponents say that the EU has failed to give proper answers about such controversies to its citizens and that still transparency is not guaranteed. Mr. Demarty, for his part, was sure: “Here it’s all about myths and facts; a facts is that TTIP is an opportunity we simply cannot miss”.

The Sting will follow closely TTIP evolutions with much interest, as done previously.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Featured Stings

Only the Americans are unhappy with the ceasefire agreement in eastern Ukraine

Theresa May’s global Britain against Philip Hammond’s Brexit fog

Why is Merkel’s Germany so liberal with the refugees? Did the last elections change that?

Tourism offers much to the EU gets a little

Junior Enterprises as a solution for Youth Entrepreneurship

EU Commission: a rise in wages and salaries may help create more jobs

Why Renewable Energy is an attractive investment

EU Council: The US airlines may freely pollute the European air

When is Berlin telling the truth about the EU banking union?

EU to present a “hefty” exit bill to the UK moments before Brexit negotiations

Italy’s Letta: A European Banking Union soon or Eurozone collapses

Let’s Learn

Brexit update: Tusk’s proposal is out and Cameron takes it all

Arlington, USA: kick-off of the fifth round of the EU-US boxing match

MWC 2016 LIVE: Intel focuses on 5G “beyond the Powerpoint”

European Union: More taxes out of less income

Solitary Britain sides with US aggressing Russia and chooses hard Brexit

War of words in Davos over Eurozone’s inflation/deflation

A new global financial crisis develops fast; who denies it?

SPB TV @ MWC14: The TV of the Future

CHINA UNLIMITED. PEOPLE UNLIMITED. RESTRICTIONS LIMITED

Snowden is the “EU nomination” for this year’s Oscars

The EU responds to US challenges by fining Apple with €13 billion

‘Internal security’ or how to compromise citizens’ rights and also make huge profits

Bundestag kick starts the next episode of the Greek tragedy

Who may profit from the rise of the extreme right in the West?

How will EU look after French, Dutch and German Elections and what will be the implications for Youth Entrepreneurship?

Brexit: when the hubris of one man can set the UK, the EU and the entire world on fire

The EU seals CETA but plans to re-baptise TTIP after missing the 2016 deadline

Merry Christmas from Erdogan, Putin, Mogherini and the Polish firefighter

Spanish and Polish voters are crying out for an imminent European change while US urge now Germany to change route

ECB’s billions fortify south Eurozone except Greece; everybody rushes to invest in euro area bonds zeroing their yields

A Sting Exclusive: “Paris and beyond: EU action and what COP21 should deliver”, Green MEP Keith Taylor discusses from Brussels 

The G7 fails to agree on growth but protects the big banks

The ECB tells Berlin that a Germanic Eurozone is unacceptable and doesn’t work

G20 LIVE: G20 Leaders’ Communiqué Antalya Summit, 15-16 November 2015

Europe turns out more jobs this summer

To Bing or Not to Bing? That is the question

Impacting society with digital ingenuity – World Summit Award proclaiming the top 8 worldwide

What the world will look like after the Iran and 5+1 deal; the US emerges as major power broker in Middle East

The financial sector cripples Eurozone growth prospects

Financial transactions tax gets go ahead

EU’s tougher privacy rules: WhatsApp and Facebook set to be soon aligned with telcos

Ukraine’s new political order not accepted in Crimea

EUREKA @ European Business Summit 2014: Innovation across borders – mobilising national R&D funds for transnational innovation in Europe

ECB to buy corporate bonds: Will government financing be the next step?

Will Brexit shatter the EU or is it still too early to predict?

Preparing the future today: World Health Organisation and young doctors

Gloomy new statistics signify no end to Eurozone’s economic misery

European Energy Union: Integration of markets and need for in-house energy production

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s