Partnership: US, EU resume talks on largest free trade area
Activists believe it will provide unfair benefits for big businesses
Environmentalists and anti-globalisation activists have opposed TTIP since negotiations began in 2013, believing it will provide unfair benefits to big business and allow multinationals to escape regulation through the backdoor. PHOTO: REUTERS
BRUSSELS:
The United States (US) and the European Union (EU) on Monday resumed talks to clinch a trade deal this year, despite rising opposition and Britain’s shock vote to exit the bloc.
Negotiators met in Brussels for the 14th round of negotiations on the proposed trade pact that would create the world’s largest free trade area.
But it is facing increasing headwinds from major EU powers - Germany and France - where negative attitudes to globalisation and free trade are on the rise.
Officials are publicly pushing to finalise negotiations on the Transatlantic Trade and Investment Partnership (TTIP) before the end of Obama administration at the end of the year.
But behind the scenes top diplomats are increasingly wary this will be achieved, believing that a suspension of talks until after major elections in France and Germany in 2017 will be required.
“I think a deal in 2016 is impossible and everyone knows it, including those who say otherwise,” France’s Junior Minister for Trade Matthias Fekl said last week, although he does not participate actively in the talks.
France is especially frustrated at the lack of progress on key issues, such as agriculture and access to public contracts in the US by European companies.
Environmentalists and anti-globalisation activists have opposed TTIP since negotiations began in 2013, believing it will provide unfair benefits to big business and allow multinationals to escape regulation through the backdoor.
Published in The Express Tribune, July 12th, 2016.
The United States (US) and the European Union (EU) on Monday resumed talks to clinch a trade deal this year, despite rising opposition and Britain’s shock vote to exit the bloc.
Negotiators met in Brussels for the 14th round of negotiations on the proposed trade pact that would create the world’s largest free trade area.
But it is facing increasing headwinds from major EU powers - Germany and France - where negative attitudes to globalisation and free trade are on the rise.
Officials are publicly pushing to finalise negotiations on the Transatlantic Trade and Investment Partnership (TTIP) before the end of Obama administration at the end of the year.
But behind the scenes top diplomats are increasingly wary this will be achieved, believing that a suspension of talks until after major elections in France and Germany in 2017 will be required.
“I think a deal in 2016 is impossible and everyone knows it, including those who say otherwise,” France’s Junior Minister for Trade Matthias Fekl said last week, although he does not participate actively in the talks.
France is especially frustrated at the lack of progress on key issues, such as agriculture and access to public contracts in the US by European companies.
Environmentalists and anti-globalisation activists have opposed TTIP since negotiations began in 2013, believing it will provide unfair benefits to big business and allow multinationals to escape regulation through the backdoor.
Published in The Express Tribune, July 12th, 2016.