The European Parliament and the TTIP
Talks between the EU and US on a Transatlantic Trade and Investment Partnership (TTIP) could lead to the world's largest bilateral free-trade area. Increased market access and trading opportunities and the removal of unnecessary regulation and red tapecould help boost economic growth and create jobs on both sides of the Atlantic. However, there are also concerns about possible adverse impacts.
As co-legislator on the EU’s trade agreements, Parliament has taken on the responsibility of ensuring that the talks on TTIP are transparent and that the final outcome is a “good deal”. As Parliament's TTIP-spokesperson and rapporteur, Bernd Lange (S&D, DE), puts it, “an agreement which respects European values stimulates sustainable growth and contributes to the well-being of all citizens”.
As this is the most ambitious and wide-ranging trade deal the EU has ever negotiated, it could have an impact on many areas of EU public life. The recommendations to the Commission negotiators on the TTIP, approved in the International Trade Committee by 28 votes to 13 with no abstentions, still need to be endorsed by Parliament as a whole.
On 9 June, European Parliament President Martin Schulz decided to postpone the plenary vote on the Parliament's recommendations to the Commission on the TTIP, which had been scheduled for 10 June.
As a result of postponement, the report's 116 tabled amendments will be sent back to the Committee on International Trade (INTA) for consideration and vote on whether they are to be put to a plenary vote.
A TTIP deal, once drawn up by EU and US negotiators, would need the backing of the European Parliament and the EU Council to enter into force.