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Transatlantic Trade And Investment Partnership Analysis

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Transatlantic Trade And Investment Partnership Analysis
European Union and the United States of America have decided to take their relationship one step further with what could be one of the most ambitious bilateral trade deals in the history.
The Transatlantic Trade and Investment Partnership (TTIP), initiated in 2013, is a trade and investment agreement that is currently being negotiated by the two sides of the Atlantic. The agreement will aim at removing the non-tariff barriers, red tapes, restrictions, etc. that can slow down trade between two trading partners. The agreement promises to generate jobs and growth at a faster pace and as it will enable smaller and larger business to export goods and services to the US. It would make it easier for EU to make investments on the other side of the …show more content…
This makes negotiations very important and adds pressure on the negotiator, who for the European Union is the European Commission. Along with the trade commissioner are the teams of negotiators and specialists from different departments of the commission. The negotiating team has been given set guidelines established by the twenty eight member states under which they carry out their negotiations and consults the council and reports to the parliament throughout this process. The commission also consults widely interest groups and the civil society. However, civil society has not been very keen on TTIP and there have been several public interest groups working to stop this …show more content…
The scale of this free trade agreement is huge and can cause some significant shifts in the geo-politics of the world. The agreement brings together two strong international players and binds them in a bilateral agreement that will require much more than just economic cooperation. This could represent a type of solidarity between the two parties. Separately, they are norm setters in their own right however, together they will be the most influential normative power in the global arena. This means reestablishing the west as the stronger force in the wake of threats from the fast rising developing countries who seem to slowly but surely, taking over the world trade scenario. TTIP can be an opportunity to establish a strategic advantage in this
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