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TTIP will create wider choice and more competitive prices

Nov 20, 2014
AmCham held a short opinion survey about the Transatlantic Trade and Investment Partnership (TTIP) to illustrate the practical implications for its members business.

The majority of respondents (85%) believe that an ambitious TTIP will provide consumers with a wider choice of goods at more competitive prices on the both sides of the Atlantic.

78% believe that TTIP will reduce time and cost for certain products to be approved, 79% think that it will improve online shopping across borders and 77% are in agreement that TTIP will harmonize regulations. 71% think it will eliminate unnecessary tariffs and custom duties. 57% of respondents believe that TTIP will enhance access to public procurement markets. 64% believe it will ensure mutual protection of investments.

From members' perspective, TTIP will bring key benefits mostly to consumers (21%) and large companies (28%).

Failure to agree upon controversial issues was listed as the main challenge for concluding an ambitious agreement by 64% respondents. Transparency (21%) was mentioned as the second main challenge.

35% respondents believe that TTIP would have a direct impact on their business while 50% believe it would have neutral effect. However, the majority of respondents (84%) don't believe that TTIP will help expand their presence either in the U.S. or EU.

Represented in the survey were SMEs (64%), large corporations (29%) and individuals (7%).
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Being an AmCham member is a great opportunity of interacting with other members about business & market dynamics in Latvia and in all Baltic states. Looking forward to collectively supporting our future, particularly in the areas of talent sustainability and business progress.

Yesim Ozer, Market Director Mars Baltics

AmCham is an invaluable resource that keeps us up to date with business issues and opportunities.

Mantautas Paskevicius, Country Manager of Strategic Staffing Solutions International