TTIP - EU, Brexit doesn't affect reasons for partnership

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UK vote on Brexit has not changed the reasons for Transatlantic Partnership, said Commissioner Malmström.

Ttip - foto di profilo Twitter EU TTIP Team

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In a speech at the Atlantic Council in Washington D.C., EU Trade Commissioner Cecilia Malmström stressed that the motivations for a Transatlantic Trade and Investment Partnership (TTIP) remains strong and that the recent UK vote on Brexit has not affected the underpinning reasons for why Transatlantic trade should be made easier.

In her speech, Commissioner Malmström underlined that a TTIP agreement must contain specific elements in order to be successful, such as:

  • removal of barriers in trade in services,
  • common principles for good regulatory practices,
  • ambitious provisions on sustainable development,
  • solutions to safeguard geographical indications,  
  • common way on investment protection.

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As regards European access to public procurement, Malmström said EU knows procurement is a sensitive issue in the US and it's ready to explore an ambitious outcome that takes these sensitivities into account. "But it's essential that the US fully understands that in Europe it's the current imbalance that's the highly sensitive issue". 

Meanwhile, the European Commission announced that the 14th round of EU-US trade talks will take place in Brussels from 11 to15 July 2016. Negotiators will discuss all three main parts of the agreement, namely market access, regulatory cooperation, and rules.