U.S. Chamber and BUSINESSEUROPE Leaders: Rapid Conclusion of Comprehensive TTIP Agreement More Important Than Ever

Wednesday, April 30, 2014 - 1:30pm

WASHINGTON, D.C.— U.S. Chamber of Commerce President and CEO Thomas J. Donohue today met with BUSINESSEUROPE President Emma Marcegaglia and Director General Markus Beyrer, as well as leaders of business federations and companies from Croatia, Denmark, France, Germany, Greece, Iceland, Ireland, Italy, Latvia, Spain, Sweden and Turkey. The two sides agreed that, given economic and political developments in Europe and the U.S., rapid conclusion of a comprehensive and ambitious Transatlantic Trade and Investment Partnership (TTIP) agreement is more important than ever.

“U.S. and EU businesses share a common interest in a successful outcome on TTIP,” said Donohue. “We have a five trillion-dollar trade and investment relationship, but we can expand on that. TTIP will set the gold standard for trade and investment agreements. I call on leaders on both sides of the Atlantic to redouble their efforts to complete this deal in a timely fashion.”

Ms. Marcegaglia, president of BUSINESSEUROPE, agreed, saying, “A quick conclusion of TTIP is one of the best steps our governments can take to generate employment and growth in Europe and the United States. A good agreement will support our shared global competitiveness, and ensure that we are setting the highest possible standards for trade and investment liberalization. Together we urge our governments to act quickly to achieve a meaningful agreement.”

The U.S. Chamber of Commerce and BUSINESSEUROPE have collaborated closely on proposals to address key issues in the TTIP negotiations, particularly in complex areas such as regulatory cooperation. The organizations today released a joint pamphlet outlining how regulators can build partnerships to be more efficient and effective in protecting citizens, consumers and the environment, while facilitating economic growth.

Following this visit of the BUSINESSEUROPE delegation to Washington, the U.S. Chamber and BUSINESSEUROPE will also bring this message to European policy-makers in the coming months. Along with the local American Chambers of Commerce and national business federations, the organizations will hold conferences on the benefits of TTIP to the local economies in France (June 10th), Germany (November 12th), Italy (July 10-11th – in conjunction with Italy’s presidency of the EU Council), and Spain (June 2nd).  Senior U.S. and member state government officials will attend these conferences, as will notable representatives of the business community on both sides of the Atlantic.

The U.S. Chamber and BUSINESSEUROPE have cooperated on many issues over the past few years, including acting as serving as hosts for the public sessions of the U.S.-EU High Level Regulatory Cooperation Forum, and produced a number of joint submissions to both the U.S. and EU authorities, including on TTIP regulatory cooperation and investment issues.  Links to these joint papers can be found here.

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.

BUSINESSEUROPE is the leading advocate for growth and competitiveness at the European level, standing up for companies across the continent and actively campaigning on the issues that most impact their performance. BUSINESSEUROPE speaks for enterprise in 35 European countries whose national business federations are direct members.