EU-US move towards launch of FTA negotiations

In a joint EU-US statement, US President Obama, European Council President Van Rompuy and EU Commission President Barroso have recently announced the initiation of procedures to launch negotiations towards a Transatlantic Trade and Investment Partnership (TTIP). This announcement follows a final report released on 13 February 2013, in which the bilateral High Level Working Group on Jobs and Growth (HLWG) concludes that, of all the options considered, a comprehensive trade and investment agreement would provide the most significant mutual benefit.

As to the components of a potential TTIP agreement, the final HLWG report recommends ambitious commitments in three broad areas:

• market access in relation to tariffs, services, investment and public procurement;

• regulatory issues and non-tariff barriers; and

• rules and principles to address shared global trade challenges.

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Topics:  EU, Obama Administration, Transatlantic Trade and Investment Partnership

Published In: General Business Updates, Finance & Banking Updates, International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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