TTIP: MEPs give backing to trade deal with US

Key MEPs today gave their backing to the proposed transatlantic free trade agreement between the European Union and the United States. Approving a resolution by 23 votes in favour and only 5 against (one abstention), members of the European Parliament’s international trade committee voiced their “support for a deep and comprehensive trade and investment agreement” with the US which would create new jobs while being of particular benefit to small and medium-sized companies.

“European Commission research has shown that a comprehensive trade deal with the US could inject an extra 119 billion Euros into Europe’s economy, creating thousands of jobs”, the EPP Group’s coordinator in the international trade committee, Daniel Caspary (DE).

The international trade committee, which would have to give the green light to the final agreement, highlighted that a trade agreement “is crucial for the EU and the US […] to realise the untapped potential of a truly integrated transatlantic market” and underlined that the final deal should be “ambitious” and binding on both sides of the Atlantic.

“We have the historic opportunity to unlock a billion-dollar market. This is a treasure both sides will benefit from. Negotiations must now start as soon as possible. Any delays will harm Europe’s economic growth potential. Tearing down tariffs and non-tariff barriers is a virtually cost-free programme for growth and jobs”, Caspary added.