New York, N.Y., June 17, 2013 – The United States Council for International Business (USCIB) applauded today’s announcement at the G8 Summit in Lough Erne, Northern Ireland that the United States and the European Union have launched negotiations for a Transatlantic Trade and Investment Partnership (TTIP).
“The European Union is our biggest export market, while the transatlantic investment relationship is the largest in the world, but there are plenty of additional opportunities if we play our cards right,” said USCIB President and CEO Peter Robinson.
“TTIP has the capacity to provide a big boost to our competitiveness, economic growth, and jobs here at home, and can jump-start other trade liberalization efforts at the regional and multilateral levels.”
According to the White House, the initial round of U.S.-EU talks is set to begin in Washington on July 8. It said TTIP will aim to further open EU markets, strengthening rules-based investment to grow the world’s largest investment relationship, while eliminating all tariffs on trade, improving market access for trade in services and tackling costly “behind the border” non-tariff barriers that impede the flow of goods, including regulatory impediments.
Last month USCIB submitted a report on TTIP to the U.S. Trade Representative’s office detailing recommended negotiating objectives in a variety of areas. Earlier this month, USCIB organized a roundtable in New York on the stakes for business in the TTIP negotiations.
Robinson said USCIB would work with fellow industry groups and the U.S. Trade Representative’s office to ensure that American industry views are front and center in the negotiations. USCIB is on the steering committee of the recently launched Business Coalition for Transatlantic Trade.
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.
Jonathan Huneke, USCIB
+1 212.703.5043, email@example.com