Trade Sep-Oct Interactive - page 33

services (e.g. ownership restrictions
and localization requirements),
better access to US procurement
markets (e.g. by preventing discrimi-
nation through “Buy American”
rules); and the facilitation of visa
and work permits.
Regulatory cooperation will likely be
one of the most complex areas of
negotiations. However, progress in
this field involves the biggest
economic potential as it would
eliminate redundancies and red tape
across all sectors. Regulatory coopera-
tion should build on the existing high
level of consumer, safety, health and
environmental standards in the EU
and the US. Negotiators and regula-
tors should focus both on horizontal
and on sector-specific cooperation.
On the horizontal level, processes and
mechanisms to achieve regulatory
coherence should be developed,
including early consultations, impact
assessments and regulatory reviews.
On the sector-specific level, the
harmonization or the mutual recogni-
tion of existing regulations and
standards should be achieved in cases
where diverging regulations lead to
comparable outcomes. In addition, the
German Industry supports the EU
Commission's approach to define an
institutional process for regulator-to-
regulator cooperation after negotia-
tions conclude.
Finally, the agreement should
develop global rules that could be
adopted beyond the transatlantic
market and that could serve as the
basis for future global trade rules.
For example, joint efforts to improve
IPR protection could lead to an
overall improvement and to higher
global standards in this area. Third
party countries should therefore be
allowed to adopt the rules developed
within the TTIP.
Conclusion: A Game-Changer
for Transatlantic Relations
The successful launch of negotia-
tions, supported by US President
Barack Obama, by the President of
the EU Commission José Manuel
Barroso and by German Chancellor
Angela Merkel, provides a unique
opportunity for a comprehensive
transatlantic agreement. The TTIP
would not only boost the transatlan-
tic economy. Moreover, it would
strengthen the political and strategic
partnership between the US and
Europe, and it would advance the
world trading system. In order to
overcome the obstacles of the past, a
strong commitment by political deci-
sion makers as well as by the
business community is necessary.
The German Industry will continue
to support this project and be
actively and constructively engaged
during TTIP negotiations.
German American Trade Sep/Oct 2013
About the Authors
Dr. Bettina Wurster is the Deputy
Representative at RGIT.
Fabian Wendenburg is Senior
Policy Advisor North America at
the Federation of German Industries
(BDI) in Berlin.
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