UNITED STATES Brussels, 14 May 2014

Information about UNITED STATES Brussels, 14 May 2014

Published on July 13, 2014

Author: leaderjesus35

Source: authorstream.com

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What is the Transatlantic Trade and Investment Partnership (TTIP)? : What is the Transatlantic Trade and Investment Partnership (TTIP)? The Transatlantic Trade and Investment Partnership (TTIP) is a trade agreement that is presently being negotiated between the European Union and the United States. It aims at removing trade barriers in a wide range of economic sectors to make it easier to buy and sell goods and services between the EU and the US. On top of cutting tariffs across all sectors, the EU and the US want to tackle barriers behind the customs border – such as differences in technical regulations, standards and approval procedures. These often cost unnecessary time and money for companies who want to sell their products on both markets. For example, when a car is approved as safe in the EU, it has to undergo a new approval procedure in the US even though the safety standards are similar. The TTIP negotiations will also look at opening both markets for services, investment, and public procurement.  They could also shape global rules on trade.: The Transatlantic Trade and Investment Partnership (TTIP) is a trade agreement that is presently being negotiated between the European Union and the United States. It aims at removing trade barriers in a wide range of economic sectors to make it easier to buy and sell goods and services between the EU and the US. On top of cutting tariffs across all sectors, the EU and the US want to tackle barriers behind the customs border – such as differences in technical regulations, standards and approval procedures. These often cost unnecessary time and money for companies who want to sell their products on both markets. For example, when a car is approved as safe in the EU, it has to undergo a new approval procedure in the US even though the safety standards are similar. The TTIP negotiations will also look at opening both markets for services, investment, and public procurement.  They could also shape global rules on trade. PowerPoint Presentation: TTIP advisory group The TTIP advisory group has met regularly since its launch in January 2014. Topics covered in meetings to date include regulatory coherence, sectors, investment protection and ISDS, and sustainable development. The purpose of the group is to provide the EU negotiating team with expert advice on aspects ofTTIP: Informal and temporary advisory group; members operate on voluntary, unpaid basis 14 individual experts representing balanced interests of wide range of stakeholders Operates in line with standard  Commission rules on expert groups Quick Facts on TTIP TTIP is a trade and investment agreement under negotiation between the EU and the US. TTIP is designed to drive growth and create jobs. Independent research shows that TTIPcould boost: the EU's economy by €120 billion; the US economy by €90 billion; the rest of the world by €100 billion Talks started in July 2013.: Quick Facts on TTIP TTIP is a trade and investment agreement under negotiation between the EU and the US. TTIP is designed to drive growth and create jobs. Independent research shows that TTIPcould boost: the EU's economy by €120 billion; the US economy by €90 billion; the rest of the world by €100 billion Talks started in July 2013. PowerPoint Presentation: How Europe can benefit from TTIP Because the EU-US trade relationship is already the biggest in the world – every day we trade goods and services worth €2 billion, every trade barrier we remove could result in significant economic gains. An  independent report  suggests that an ambitious agreement could result in millions of euros of savings to companies and create hundreds of thousands of jobs. It's expected that every year an average European household would gain €545, as our economy would be boosted by 0.5% of GDP, or €120 billion annually, once fully implemented. The extra economic growth will benefit everyone; boosting trade is a good way of boosting our economies by creating increased demand and supply without having to increase public spending or borrowing. Ensuring transparency in EU-US trade talks: EU publishes negotiating positions in five more areas : Ensuring transparency in EU-US trade talks: EU publishes negotiating positions in five more areas The European Commission today publishes negotiating positions in five more important topics of our current talks with the US on a future trade and investment deal, the Transatlantic Trade and Investment Partnership (TTIP). PowerPoint Presentation: The papers released today include proposals for enhancing the compatibility of each other's existing rules and regulations, or working more closely together in setting them in future, in five sectors: EU position on chemicals   EU position on cosmetics EU position on motor vehicles  EU position on pharmaceutical products EU position on textiles and clothing PowerPoint Presentation: In each sector, the papers focus on ways we can: end the unnecessary duplication of product testing or plant inspections recognise each other's existing regulations, or bring them more closely together align our respective procedures for approving or registering new products. PowerPoint Presentation: 1. Chemicals Current EU and US regulations on chemicals differ significantly. So neither harmonisation nor mutual recognition are feasible. The EU sees scope for working together in four areas, within the limits of our respective rules, to: prioritise chemicals for  assessment  and agree on how best to  test  them classify  and  label  chemicals identify and address  new  or  emerging  issues share  data  and protect confidential  business information  more effectively. Doing so could make our systems more efficient and thereby cut firms' costs. PowerPoint Presentation: 2. Cosmetics The paper builds on work which EU and US regulators already undertake jointly. It proposes working together to: recognise each other's lists of  permitted or banned substances recognise each other's  Good Manufacturing Practices  (GMPs) develop and use alternatives to  animal testing harmonise our methods and requirements for  testing  products align each other's requirements for  labelling work more closely together in the International Council on Cosmetics Regulation (ICCR), which brings together regulators from the EU, the US, Canada and Japan. PowerPoint Presentation:   3. Motor vehicles For cars and trucks, EU and US technical requirements differ. But on both sides they aim to ensure  high standards  of health, safety and environmental protection. This paper sets out our aim: to achieve  compatibility  without lowering standards on either side. As such it identifies two main objectives: recognising each other's  existing standards  and regulations working together more closely to draw up  regulations in future , especially on new technologies. Closer EU-US cooperation within the United Nations Economic Commission for Europe (UNECE) could also help to set  new global regulations . Agreement in these areas could lower costs to manufacturers and ultimately to consumers. PowerPoint Presentation: 4. Pharmaceuticals In this area regulators on either side of the Atlantic already work closely together. The paper proposes several areas for further joint work. These are: recognising each other's Good Manufacturing Practice (GMP)  inspections  of manufacturing plants, to avoid duplicating work exchanging  information harmonising our requirements for approving ' biosimilars ' - products similar to already-licensed biological medicines, such as vaccines streamlining systems for authorising  generic drugs harmonising the  terms  we use, and carrying out more  joint assessments working together to revise the  paediatrics guidelines  issued by the International Conference on Harmonisation (ICH). PowerPoint Presentation: 5. Textiles and clothing The paper proposes strengthening existing EU-US cooperation in three main areas: labelling  - including mutual recognition of care instruction symbols and aligning our names of new textile fibres product safety  and consumer protection – including working jointly to: clarify requirements on fire safety of fabrics, align the list of substances whose use in textiles is restricted, and set technical standards for protective clothing and other specialist products. standards  - seeking convergence in certain areas.

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