TTIP: MEPs back trade deal with US

Key MEPs gave their backing today to the proposed Transatlantic Trade and Investment Partnership (TTIP) 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 enterprises.

"European Commission research has shown that a comprehensive trade deal with the US could inject an extra €119 billion into Europe's economy, creating thousands of jobs", the EPP Group's Coordinator in the International Trade Committee, Daniel Caspary MEP and the EPP Group's Shadow Rapporteur, Godelieve Quisthoudt-Rowohl MEP said.

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 an historic opportunity to unlock a billion-dollar market. This is a treasure both sides will benefit from. Negotiations must 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 and Quisthoudt-Rowohl concluded.