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Transcript of TTIP
1. Market Access
Upcoming TTIP Events
September 5 - 2014 : "TTIP - Bursting the trade bubble", organized by the Eutopean Public Health Alliance during their 5th annual conference.
More income in EU & US =
More imports from other countries
Transatlantic Trade & Investment
CONTROVERSIAL INVESTOR-STATE DISPUTE SETTLEMENT (ISDS)
were initiated, which constitutes the highest number of known treaty-based disputes ever
filed in one year
and confirms that foreign investors areincreasingly resorting to investor-State arbitration" (UNCTAD, 2013)
"The highest award in the history of ISDS (US$1.77 billion) in Occidental v. Ecuador, a case arising out of a unilateral termination
by the State of an oil contract" (UNCTAD, 2013)
it gives investors based in a country were the agreement was made the right to sue another signatory state before international arbitration tribunals if its policies result in reduced profits.
Threat to democracy
Burden for public funds
"Freezing effect" on of public policy development
UNCTAD. (2013, May 1). UNCTAD: II A Issues Note . UNCTAD. Retrieved September 3, 2014, from http://unctad.org/en/PublicationsLibrary/webdiaepcb2013d3_en.pdf
Suing the state: hidden rules within the EU-US trade deal (YouTube)
CORPORATIONS LOBBYING TO REDUCE STANDARDS
Since the agreement focuses on
several NGOs around the world are raising concern over Europe being forced to
"lower the bar"
and accept US standards (which in many cases are lower than their own) in order to create a "level playing field".
Food and health products
Ottery, C. (2014, February 19). Q&A: What does the trans-Atlantic trade deal mean for energy?. Greenpeace UK. Retrieved September 4, 2014, from http://www.greenpeace.org.uk/newsdesk/energy/analysis/qa-what-does-trans-atlantic-trade-deal-mean-environment
TTIP: A race to the bottom (new version) (YouTube)
POSITIVE IMPACT ON WAGES AND HOUSEHOLDS INCOME
"A European family of four would see their
disposable income increase
by an average of
per year as a result of the agreement" (CEPR, 2013)
The CEPR study produced for the European Commission expects
wages for both skilled and less-skilled workers to rise by approximately 0.5%.
CEPR. "Transatlantic Trade and Investement Partnership: The Economic Analysis Explained." European Commission. N.p., 1 Sept. 2013. Web. 4 Sept. 2014. <http://trade.ec.europa.eu/doclib/docs/2013/s
REDUCTION OF NTBs
CHEAPER GOODS & SERVICES
BACKGROUND & STATE OF PLAY
TTIP & THE REST OF THE WORLD
WHO ARE THE KEY PLAYERS?
Multinationals and lobby associations
The European Commission (representing the 28 states in the EU)
and the Office of the United States Trade Representative on behalf of the US government)
International arbitration tribunals
Several political parties from different states in the EU
(especially the Greens)
More growth for EU & US companies =
More orders for their
suppliers in other countries
Direct "Spill-over" effect:
The unique regulation makes it easier for foreign companies to export to the TTIP zone
CONCERNS OVER TRANSPARENCY
"Responses to freedom of information requests are
for months, and once released, reports are
Ermert, M. (2013, June 3). Trade partnership gets nod from majority in European Parliament. Internet Policy Review. Retrieved September 5, 2014, from http://policyreview.info/articles/news/trade-partnership-gets-nod-majority-european-parliament/133
Europe Observatory. (2014, July 8). Who lobbies most on TTIP?. Corporate Europe Observatory. Retrieved September 5, 2014, from http://corporateeurope.org/international-trade/2014/07/who-lobbies-most-ttip
September 19 - 2014 : "TTIP - Looser rules on cross-border information flow or a real push for austerity-blighted economies", organized by the Stern Stewart Institute during its annual summit.
2. Regulatory Component
3. Rules, Principles and Modes of Cooperation
Indirect "Spill-over" effect:
Due to the market size of the TTIP, foreign countries will have an incite to follow the new standards, indirectly integrating themselves to the agreement
What about Colombia ?!
Income per capita: -2.6%
Less exportations to USA and EU
Incentive to develop and reinforce its freetrade agreements
Even the TTIP negotiations are currently paused until the end of the month president Obama has set a November deadline for producing a substantial outcome in the talks, many experts as the New Zealand trade minister, Tim Groser have said that it wont be possible to conclude in this year.
Making existing laws more compatible and the mutually recognizing that some regulations have the same effect would mean that
companies could comply to only one set of rules in order to sell in both markets
WHAT IS TTIP?
Is a potential free trade and investment treaty
Between The European Union and the United States of America
Eliminating tariffs to obtain higher levels of investment
Reducing costs and eliminating unnecessary delays
Contributing to the strengthening of global multilateral trading system
This relationship dates back to 1953
The EU began with 6 members - today 28 members
1995: The New Transatlantic Agenda
1998: The Transatlantic Economic Partnership
President Barack Obama - February 2013
Together they account for 30% of global trade and almost 50% of global GDP.
Elina Marcela Ospina
Juan Camilo Upegui