The proposed Transatlantic Trade and Investment Partnership agreement (TTIP) remains one of the hottest topics both in the European Union and the United States. Recently concluded was the sixth round of talks in Brussels on July 18.

In July AmCham EU and BUSINESSEUROPE hosted a press briefing on the sixth round of TTIP negotiations. The journalists came from ten EU Member States, including Latvia. The press was interested in various issues and controversies surrounding the TTIP talks. In response to the claim that TTIP will primarily benefit big business, both organizations underlined the fact the small and medium enterprises (SMEs) stand to benefit considerably from reduced tariffs and harmonized standards that will allow these small business to more easily export across the Atlantic. Later commenting on the perceived strong opposition to TTIP in some Member States, both AmCham EU and BUSINESSEUROPE stressed that recent polls show that many Europeans still don't know about TTIP. To find out more about TTIP in Latvian, visit public broadcasting portal LSM.LV.

The overview of the 6th round of negotiations is as follows:

• Negotiators continue to move forward in areas in which there is mutual agreement. In other areas progress has slowed as negotiators search for compromises.
• Negotiators are working on a final agreement text that will increase market access for goods.
• No second tariff offers were exchanged.
• Negotiators had previously exchanged offers on market access for services and investment.
• The U.S. and the EU are looking to exchange proposals on sanitary and phytosanitary measures (SPS) before the seventh round.
• Negotiators are hard at work on increasing market access and reducing regulatory burden for small-and medium-sized enterprises (SMEs).

The summary of state of play in TTIP negotiations by the EU Commission is available here. The seventh round of TTIP negotiations will be held from September 29 to October 3 in Washington, DC.

We are considering to launch a separate working group on TTIP to discuss its impact on your business, so let us know if you are interested to share your expertise and opinion on TTIP. Please contact ieva.melngaile@amcham.lv.