TPP conclusion: positive for EU negotiations with Japan and the USA

BUSINESSEUROPE welcomes the announcement in Atlanta of the conclusion of the Trans-Pacific Partnership Agreement.  The agreement includes 12 Pacific Rim nations from Canada and Chile to Japan and Australia, representing 40 percent of the world’s economy.

Commenting on the public announcement Markus J. Beyrer, Director General of BUSINESSEUROPE, stated:

“The conclusion of TPP - Trans-Pacific Partnership Agreement - is a significant step towards trade liberalisation and should bring a new impetus to the EU trade negotiations with Japan and the USA. With the conclusion of TPP we are now confident the EU might be closer to concluding ambitious agreements with Japan and the USA”.

TPP includes countries with which the EU has recently concluded free trade agreements, like Canada and Vietnam, and others with which the EU is reviewing existing agreements like Chile and Mexico. Talking about the impact of TPP, Beyrer said:

“The conclusion of TPP puts additional pressure on the EU to speed up its trade agenda to ensure European companies will be able to take advantage of market opportunities in developed and developing countries in one of the fastest growing regions in the world”.

The European Commission will this month publish its revised trade strategy; BUSINESSEUROPE expects that a strong emphasis is put on the conclusion of the TTIP and EU-Japan negotiations.