GA Trade July-Aug 2014 - page 26

egotiations on a comprehen-
sive transatlantic trade and
investment partnership (TTIP)
entered their 5th round onMay
19th in Arlington, VA. This round
focused onmarket access for goods
and services, regulatory coopera-
tion, government procurement as
well as on a chapter on sustainabil-
ity. In the run-up to this negotia-
tion round, the European Commis-
sion published specific proposals
on regulatory cooperation in five
key sectors (chemicals, cosmetics,
motor vehicles, pharmaceuticals,
and textiles).
At a “TTIP Stakeholder Forum”, the
Federation of German Industries
(BDI) gave a presentation outlining
priorities for regulatory cooperation
which is a key priority in TTIP.
From our perspective, small and
medium-sized enterprises could
particularly benefit from an
enhanced regulatory cooperation: If
redundant and duplicative test and
licensing procedures could be
mutually recognized or harmonized,
this would decrease administrative
costs that burden SME. If the EU
and the U.S. agree on common
standards, or manage to develop
joint standards in the future,
manufacturers would not have to
produce different components for
eachmarket, which would signifi-
cantly decrease production costs.
The machinery sector estimates that
costs could be lowered by up to 20
per cent. In order to achieve these
efficiencies, TTIPmust contain
sector-specific agreements across all
major industrial sectors as well as a
mechanism for cooperation on
upcoming regulations. At the same
time it is crucial that TTIPmust not
lower safety requirements, consum-
er protection or social and environ-
mental standards, and that it must
not undermine the right to regulate
by the U.S. or the EU and its
member states.
Chancellor Merkel
promotes TTIP inWashington
In a visit toWashington in early
May, German Chancellor Angela
Merkel voiced her strong support
for TTIP. During a speech at the U.S.
Chamber of Commerce, she said
that TTIP should eliminate duplica-
tive and redundant regulations
without lowering standards for
consumers, workers, or the environ-
ment: “If we succeed in doing this,
Europe and America will be able to
develop global standards. With a
transatlantic [trade and investment]
agreement, we will enhance our
economic leverage and we will be
able to set standards.”
ByFabianWendenburg, RGIT
5th Round
of TTIP Talks
“If we succeed in doing
this, Europe and America
will be able to develop
global standards.”
German Chancellor
at theU.S. Chamber ofCommerce
Photo: Bundesregierung/GuidoBergmann
GermanAmerican Trade July/Aug 2014
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