TTIP

What does TTIP mean?

According to AmChams in Europe, The Transatlantic Trade and Investment Partnership (TTIP) means a stronger economy, lower prices, benefits for large and small companies, maintaining standards and customer protections and more money in customer's pockets. 

The TTIP is set to create economic well-being for business and citizens alike. Economic activity could increase by EUR 119 billion per year in the EU and EUR 95 billion in the U.S., with elimination of tariffs increasing business productivity by EUR 107 billion per year in the EU and EUR 71 billion in the U.S. Cooperation on customs and regulations will reduce the amount of paperwork and administration needed to export products and services. The elimination of tariffs, streamlining of customs procedures and aligning regulations will make it cheaper and easier to export and bring new products to the market.

In February 2013 U.S. President Obama, President of the European Commission Barroso and President of the European Council Van Rompuy announced their intention to negotiate such an agreement. 

U.S.-EU Joint Report on TTIP Progress to Date (17 January, 2017).

The 15th TTIP round took place in New York on October 3-7, 2016. EU’s Chief TTIP Negotiator Ignacio Garcia Bercero: "In this round we focused on consolidating texts and removing the differences we had in the existing proposals. Our teams have worked extremely hard and have made significant progress in a number of areas. The negotiators have spent a lot of time discussing the regulatory area, including regulatory coherence, technical barriers to trade, plants and animals health (SPS) and the nine specific sectors identified for cooperation before the talks has begun (the 9 sectors are: cars, pharmaceuticals, chemicals, cosmetics, ICT, pesticide, engineering, medical devices and textiles). Progress in some of those sectors is very encouraging." To view full report of this round, please click here.

The 14th TTIP round took place in Brussels on July 11-15, 2016. "During this round the EU submitted a record number of 10 new textual proposals, but important differences remain and much more work, basically in every area of the talks is needed." To view full report of this round, please click here.

The 13th TTIP round took place in New York on April 25-29, 2016. The objective of this round was first, to translate the political commitment of President Obama's visit in Europe into practical results and second to agree on joint text in as many areas as possible. To view full report of this round, please click here. 

The 12th TTIP round took place in Brussels on February 22-26, 2016. The negotiating teams discussed competition, customs and trade facilitation, state to state dispute settlement, and SMEs. A special emphasis was put on investment protection and sustainable development. The report on the 12th round can be viewed here

The 11th TTIP round took place in Miami, Florida from October 19 - 23, 2015. The negotiating teams discussed the European Union's draft proposal on investment court systems for TTIP and focused on reducing tariffs and harmonizing government procurement standards and labor and environmental standards.

The 10th TTIP round took place in Brussels from 13-17 July. The negotiating teams discussed exchanging revised services offers and reporting productive discussions on regulatory coherence. 

The 9th TTIP negotiating round took place in New York, NY from April 20 - 24, 2015. The negotiating teams discussed in-depth a broad range of T-TIP issues.

The 8th TTIP negotiating round took place on 4th December. EU and US negotiators gathered for a four-day session in Brussels.

The 7th TTIP negotiating round took place from 29th September to 3rd October in Chevy Chase, Maryland. Discussions focused on regulatory issues. Opening remarks from EU and US Chief negotiators are available here and the EU press statement can be accessed here.

The 1st TTIP negotiating round was held in Washington the week of July 8. The round of TTIP 2nd took place on 11th - 15th November in Brussels. The TTIP negotiation agenda is very ambitious, aiming to sign the agreement by end of 2014. The 3rd TTIP negotiating round took place in Washington, DC in December, 2013. AmCham EU's position paper on TTIP is available here

AmCham Latvia strongly supports TTIP believing that such an agreement will increase trade and investment between the EU and the U.S., including Latvia. The TTIP would give Latvian firms - especially small and medium sized enterprises - greater access to a huge market by reducing or eliminating market access barriers and tariffs.

On March 24, 2015, 19 American Chambers of Commerce in Europe sent a joint statement to the EU Trade Ministers ahead of the informal meeting in Riga calling to increase Member State outreach on TTIP. Click here to read it.

On September 30, 2014 the members of the EU Business Alliance for TTIP released a statement reaffirming their support for regulatory coherence and cooperation in TTIP for both economic and strategic reasons.

On September 24, 2013, a roundtable debate on TTIP was held by the Representation of the European Commission in Latvia moderated by AmCham President Ivars Slokenbergs. Find out more about the event here

AmCham in Latvia along with AmChams in Europe announced the launch of negotiations for TTIP between the EU and the US on February 18, 2013 by sending a press release. To read the press release click here.

Click here to read AmCham opinion survey on TTIP.

Click here to read short summary on TTIP.

Citadele Banka

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AmCham works hard to accomplish its goals and is a voice in the business community that is heard.

Filips Klavins, Managing Partner at Ellex Klavins

AmCham works hard to accomplish its goals and is a voice in the business community that is heard.

Filips Klavins, Managing Partner at Ellex Klavins