(TTIP), DE CASTRO: IS A GREAT OPPORTUNITY FOR BOTH THE EU AND THE USBUT THE EUROPEAN PARLIAMENTI MUST BE PROPERLY INLVOLVED IN NEGOTIATIONS

DE CASTROVILSACK"The aim of the Transatlantic Trade and Investment Partnership is to increase trade between the European Union and the United States and thus stimulate growth and increase employment on both sides of the Atlantic Ocean. This is more important than ever now when we are trying to tackle consequences of the global economic crisis including high unemployment especially among young people", Mr. De Castro said.

"The TTIP is a great opportunity for both the European Union and the United States. During the negotiations, we need to overcome our differences and find a common vision that would benefit farmers and consumers on both sides of the Atlantic", Mr. De Castro said.

"Nevertheless, we must make sure that the final TTIP deal is well balanced. It must lift barriers and bring new opportunities to EU producers to export their products across the ocean but at the same time ensure that high EU standards that our farmers must meet and our consumers currently enjoy, and our view on issues such as use of hormones, cloning and GMOs, are not compromised", Mr. De Castro said.

"We are open to negotiations but to ensure a good result for our farmers and consumers, the European Parliament, which will have to give its blessing to the final deal, must be properly involved in the process", Mr. De Castro concluded.

The meeting, which took place in the European Parliament, was also attended by Iratxe García Pérez (S&D, ES) and Michel Dantin (EPP, FR).

Background

In a joint effort to revive the economy on both sides of the Atlantic, EU and US leaders announced at the start of 2013 that they would seek to achieve a comprehensive economic deal to exploit the full potential of economic cooperation. The 2013 impact assessments suggest that free trade with the US could boost EU GDP by 0.5%, which would translate into extra €545 a year for each family of four in the EU.

The talks on the TTIP began in July 2013 and the Commission hopes to conclude them within a couple of years. To enter into force, the deal will have to win support of the European Parliament.

In 2013 the EU28 agricultural export to the US was worth €15.40 billion while imports from the US to the EU accounted for €9.75 billion. The EU thus had a positive agricultural trade balance with the US worth €5.65 billion.

-RIPRODUZIONE RISERVATA-

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