“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

Advertising

Advertising

Advertising

Advertising

the European Sting Milestones

Featured Stings

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

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

‘Endemic’ sexual violence surging in South Sudan: UN human rights office

Parallel downfalls of Merkel and Deutsche Bank threaten Germany and Europe

China-EU Summit on 16-17 July 2018: “Work together to address common challenges”, by China’s Ambassador to the EU

China greenlights first underwater high-speed railway

Combatting terrorism: EP special committee calls for closer EU cooperation

Why do thousands of migrants need to be drowned for Brussels to wake up?

“C’est la vie”? French recession and unemployment to linger in Eurozone

Climate change and health: a much needed multidisciplinary approach

The gender gap of medicine in 2018

Cyprus Parliament says no to blackmail

Where are people most proud to be European?

The EU Parliament and the ECB unknowingly or unwillingly fail to protect our financial assets

A refugee from Syria cries out: “I’m not just a number!”

Is the EU’s enlargement over-stretched?

How a trade war would impact global growth

Public opinion misled by the Commission on air transport safety

High level political talks didn’t break the stalemate in Ukraine

India is a latecomer to AI. Here’s how it plans to catch up

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

Parliament backs a modernised EU electoral law

Wednesday’s Daily Brief: Diplomacy for Peace Day, #VaccinesWork, the cost of war on Afghans, tech and well-being

There are more than 1 billion guns in the world and this is who owns them

UN global education envoy urges new funding for ‘lost generation’ of children forced out of classrooms by conflict

The role of students in a migration crisis in Roraima, Brazil

FROM THE FIELD: Faces and Voices of Conflict

The world wide web is 30. Here are 8 things you should know about it

Trade protectionism and cartels threaten democracy

UN global counter-terrorism strategy review an ‘overarching vision for the future’: Assembly President

How civil society must adapt to survive its greatest challenges

This forgotten chemical element could be the key to our green energy future

EU Commission says falling labour remuneration leads to deflation and damages growth prospects

Antitrust: Commission fines Google €4.34 billion for illegal practices regarding Android mobile devices to strengthen dominance of Google’s search engine

We could be sleepwalking into a new crisis. How should the business world prepare?

Moscow’s Eurasian Union lost significance after the crisis in Ukraine

Trump fines China with $50 billion a year plus some more…

More state aid to big firms, no special provisions for the SMEs

45th Anniversary of the French Confederation (Confédération Nationale des Junior Entreprises)

A new era of computing is coming. How can we make sure it is sustainable?

COP21 Breaking News_08 December: Global Business Community Comes to Paris with Solutions for Taking On the Climate Challenge Across the Board

It’s not kids’ screen time you should worry about – it’s yours

“An open China brings opportunities to Europe”, a Sting Exclusive by China’s Ambassador to EU

External action: more funds for human rights, development and climate change

Europe on the Move: Commission completes its agenda for safe, clean and connected mobility

FROM THE FIELD: Survival in Yemen against all odds

Commission Vice-President Rehn exaggerates Eurozone’s growth prospects

EU leaders slammed on anti-tax evasion inaction and expensive energy

To hope or doubt? The state of women’s progress in the world

The Franco-German axis considers that all EU needs now is more armaments

Tax revenues continue increasing as the tax mix shifts further towards corporate and consumption taxes

Although Greece is struggling to pay salaries and pensions Varoufakis is “optimistic”; the Sting reports live from EBS 2015

EU Parliament shows its teeth in view of 2014 elections

Trade negotiations with US can start under certain conditions

Will AI make the gender gap in the workplace harder to close?

Close to final agreement on the EU Banking Union

Eurozone business activity again on upwards path

EU budget: Regional Development and Cohesion Policy beyond 2020

What lessons to draw from the destruction of Syria

Climate change: Will COP23 be able to accelerate the implementation of the Paris agreement?

‘Health is a right, not a privilege’ says WHO chief on World Health Day

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 )

Google photo

You are commenting using your Google 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 )

Connecting to %s