The United States and the European Union are currently negotiating a trade agreement (Transatlantic Trade and Investment Partnership Agreement) that would create the largest integrated market in the world, yet a key emerging player, Turkey with the world’s 16th largest economy, could be left out of the agreement. Turkey could experience a major and potentially negative impact due to its previously established Customs Union with the European Union.
By Brian Beary, U.S. Correspondent for Europolitics
As some 60 EU trade officials descend on Washington this week to launch negotiations on a free trade agreement with the United States, Europolitics, the leading Brussels-based EU affairs newspaper, has just published a special section on the Transatlantic Trade and Investment Partnership or TTIP.
Entitled ‘Transatlantic Common Market – Opportunity or Pipe Dream,’ the report explores the core issues involved in the TTIP talks. In exclusive interviews, top U.S. and EU trade officials outline their respective goals and potential red lines. The supplement also offers concise perspectives from the other key players, notably from the European Parliament, the U.S. Congress, the business community, the trade unions, the World Trade Organization and China. It drills down into the nuts and bolts of the talks, with a dozen special features focused on individual sectors. They range from public procurement, an area where Europe would like to see America open up its markets more, to agriculture, where it is the Americans that are on the offensive in seeking to get rid of EU trade barriers. The report also examines sectors that may or may not be included depending on how the talks go, from commercial air travel to banking to the cinema industry to U.S. liquefied natural gas exports. There are, in addition, brief biographies of a dozen key Europeans and Americans pivotal to the TTIP negotiations and a statistical overview of the EU-US trade relationship.Download the issue here.
On June 19, 2013, The European Institute welcomed The Honorable Daniel Caspary, International Trade Spokesman for the EPP Group in the European Parliament and Member of the European Parliament’s Committee on International Trade, to discuss the Transatlantic Trade and Investment Partnership (TTIP) and assess the prospects for ultimate ratification by the European Parliament. A strong proponent of the historic initiative, Mr. Caspary called for a truly comprehensive agreement, a tight negotiation time line so as to finalize the agreement by the end of 2014, and urged business leaders from both sides of the Atlantic to help build popular support. Michael Smart, Vice President at Rock Creek Global Advisors moderated the lively discussion.
With the official nomination of President Obama’s Deputy National Security Advisor for International Economics, Michael Froman, as the next U.S. Trade Representative, the Transatlantic Trade and Investment Partnership (TTIP)has taken a vital and important step closer to the negotiating starting gate. Froman, a close friend and advisor of the President, has been central to the Obama Administration’s trade agenda since 2009.
Editor’s Note: As the European Union and the United States launch negotiations on The Transatlantic Trade and Investment Partnership, European Affairs inaugurates a series of occasional articles that will chart the progress and assess the implications of this historic initiative.
The interaction between the European unification process towards “an ever closer Union”2 and its most important partner, the “more perfect Union”3 of the United States of America, has been among the top foreign policy issues since the early days of the European project. Equally, helping shape the evolving EU/US relationship has been at the top of my own professional agenda for more than four decades, during which I worked as a close collaborator of European Commission President Jacques Delors, as Director General in charge of External Relations and Political Director for the European Commission, with a stint as the EU Ambassador and Head of the Commission Delegation in the United States from 2000 to 2005. The following are a few thoughts, taken from the background of my personal recollections and practical experience.
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