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Damien Levie Deputy Chief Negotiator DG TRADE

The EU-US Transatlantic Trade and Investment Partnership (TTIP). Damien Levie Deputy Chief Negotiator DG TRADE. Istanbul 12 September 2013. Disclaimer

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Damien Levie Deputy Chief Negotiator DG TRADE

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  1. The EU-US Transatlantic Trade and Investment Partnership (TTIP) Damien Levie Deputy Chief Negotiator DG TRADE Istanbul 12 September 2013

  2. Disclaimer All views expressed are purely personal and should not be considered as representative of the European Commission’s official position. Neither the European Commission nor any person acting on behalf of the Commission is responsible for the use which might be made of the following information.

  3. EU/US Trade: EU is the world's biggest trading power Countries who have the EU, the US, China or Japan as their most important trade partner EU as first trade partner US as first trade partner China as first trade partner Japan as first trade partner

  4. Top trading partners • World's largest trade market • 50% of world GDP and 1/3 of world trade • €1.8 billion/day and €723 billion/year of goods and services traded • 15 million transatlantic jobs • €2,4 trillion of mutual investment stocks However, relative importance is in decline

  5. EU imports from USA (2011)

  6. EU exports to USA (2011)

  7. TTIP time Not new: "old movie" of the 90ies Trade = growth at minimal cost to taxpayer • Irresistible given macroeconomic situation Potential not fully exploited • Tariff average: 3% EU: 5.2% US: 3.5% • Trade-weighted tariff protection: EU: 2.8% US: 2.1% • Barriers at and behind borders : similar aims, different approaches

  8. TTIP time (2) Ambitious bilateral trade and investment agendas • Canada, Japan, India and ASEAN • Trans-Pacific Partnership DDA Impasse & need of new global trade rules Stars aligned • European Council and European Parliament • 28 Member States • Business

  9. How we got there? Preparations (1) November 2011 EU-US Presidential Summit • High-Level Working Group on Growth and Jobs • Tasks: identify policies & measures to increase trade and investment to support job creation, growth & international competitiveness • Timing: June & end of the year 2012 (US elections)

  10. How we got there? Preparations (2) • In-depth work • Scoping exercise • USTR & European Commission • Relationship between equals • Building on previous work, TEC, & > 60 sector-specific regulatory dialogues

  11. How we got there? Preparations (3) Interim report June 2012 • Preferred option: a comprehensive agreement • Goal is highly ambitious liberalisation in all areas: goods, services, public procurement, investment, regulatory issues and non-tariff barriers. • Rules for the 21st century: trade facilitation & customs, competition and State-owned enterprises, labour & environment, SMEs, supply chains, access to raw materials & energy.

  12. Preparations (4) Interim report June 2012 "If achievable"

  13. Preparatory Work (5) Stakeholders' role invited by the HLWG (interim report) to present concrete proposals to address the impact of regulatory differences that unnecessarily impede trade Joint EU-US call July 2012 call by USTR/DoC + TRADE / DG Enterprise & Industry Good results Legislators in the loop

  14. Preparatory Work (6) Final report February 2013 Recommendsstartprocedures to launchnegotiations of a comprehensivetrade & investment agreement: "TTIP" Key findings: • Need break new ground to reapbenefits & establish new traderulesthat are globally relevant • Needinnovativeapproaches, both to becreative, flexible & open-minded • Agreement in three parts

  15. Preparatory Work (7) Final report February 2013 • marketaccess • Regulatory issues & NTBs • Rulesaddressing shared global trade challenges and opportunities

  16. Preparatory Work (8) Market Access • Goods: "wouldbe to eliminate all duties on bilateraltrade … substantialelimination of tariffsupon entry into force, phasing out of all but the most sensitive in a short time frame … options for … most sensitive products" • Services: bindexistingopening, and "achieve new marketaccess … long-standing marketaccessbarrierswhilerecognising … sensitive … sectors. Commitments on transparency, impartiality & due process for licensing & qualification requirements & procedures

  17. Preparatory Work (9) Market Access ctd • Investment: liberalization and protection provisions based on highest standards • Public procurement: "enhance business opportunitiesthroughsubstantiallyimprovedmarketaccess to govprocurement .. At all levels of government on the basis of national treatment

  18. Preparatory Work (10) Regulatory issues & NTBs • Important: "significant portion of the benefits" [equivalent to a traditional tariff of 10-20%] • Balancedambition: move progressively to a more integratedmarket place whilerespectingeachside's "right to regulate in a mannerthatensures the level of protection of health, safety, and the environmentthateachsidedeemsappropriate" • Shared objective: identify new ways to preventNTBsfromlimiting the capacity of U.S. and EU firms to innovate & compete in global markets

  19. Preparatory Work (11) Regulatory issues & NTBsctd • Need new processes & mechanism: promotegreater compatibility, includingwhereappropriate, harmonization of future regulations, & reduceburdensfromexistingregulationsthrough, whereappropriate, mutual recognition or othermeans • 5 elements

  20. Preparatory Work (12) Regulatory issues & NTBsctd • ambitious SPS chapter • ambitiousTBT chapter • Horizontal disciplines on regulatorycoherence in goods and services… upstreamregulatory consultation, impact assessments, good regulatory practices • Sectorial annexes: Commitments / steps => regulatorycoherence • Framework … guidingregulatorycooperation … institutional basis for future progress – "engine of the living agreement"

  21. Preparatory Work (12) Rules addressing shared global trade challenges and opportunities • IPR • Environment & labour • Otherrules, principles, modes of cooperation in: • trade facilitation & customs, competitionpolicy, State-ownedenterprises and otherenterpriseswithspecialgov' grantedrights,localizationbarriers to trade, accessto rawmaterials & energy, SMEs, transparency

  22. Final report HLWG • Endorsed by Presidents Barroso, Van Rompuy and Obama • Triggered internal procedures to launch negotiations of a “Transatlantic Trade and Investment Partnership” (TTIP)

  23. Impact Assessment - Economic findings • Significant economic gains both EU & US: • 0,5 % increase in EU GDP by 2027 • 68-119bio €/year (EU), 50-95bio €/year (US) • 545€ extra disposable income for families • Increased trade • EU exports to US up by 28% (187 bio €) • Total EU exports up 220 bio € (3rd countries included) • Labour market: benefits (of overall wages and new job opportunities for high- and low-skilled workers) • RoW: GDP increase +100 bio/ €

  24. Impact Assessment – Sectoral Benefits

  25. EU negotiation mandate Negotiating directives set out in very broad terms the topics and objectives to be achieved in the negotiations Three main elements: • Market access: tariffs, RoO, Services, PP, Investment • Regulatory and NTBs: towards convergence? • Trade rules addressing shared global challenges • IPR, Trade and Sustainable Development + Other Globally Relevant Challenges and Opportunities

  26. Timing • Parallel launch procedures • Adoption of negotiation mandate (14 June 2013) Letter of notification US Congress (90-day period) Trade negotiations on one tank of gas 1st round of negotiations (July 2013) 2nd round 7-10 October 3rd round December

  27. Milestones on the way No low-hanging fruit Complex topics • Agriculture, SPS, Regulatory convergence, NTBs, services, public procurement Elements of timing • US presidential term • EP elections June 2014 • College of Commissioners Oct. 2014

  28. Transparency in trade negotiations • Democratic scrutiny and public involvement are encouraged at all stages of negotiations • During negotiations: public consultations, civil society dialogue, SIA, Council and EP (INTA) • Stay informed • Commission's TTIP dedicated website http://ec.europa.eu/trade/policy/in-focus/ttip/ • Follow us on Twitter @EU_TTIP_team • Public debate before the deal is approved

  29. Negotiations: Working arrangements • DG Trade will take the overall lead (and USTR) • Negotiating teams are led by a Chief Negotiator • Chief Negotiators set up negotiation rounds, normally alternating between the EU and US • Depending on the agenda, up to 70 people on the Commission side • 1st round: 8-12 July in Washington • All areas of negotiation covered • DG Trade draws on expertise from across the Commission • Strong cooperation between DGs

  30. THE END

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