The European Commission said Monday it was setting up an advisory group of business and union people to help EU negotiators in talks on the world's biggest free trade deal with the United States.
The Commission, the EU's executive arm, said the special advisory group will promote transparency in the Transatlantic Trade and Investment Partnership (TTIP) talks which began last year
The 14 advisors, from varied consumer, labour and business groups, will help "ensure that a future TTIP genuinely facilitates trade between the EU and the US, and benefits all citizens in Europe."
They will also help "ensure that Europe's high standards in, for example, protection for consumers and the environment, are respected and upheld in the negotiations," a statement said, touching on one of the most sensitive dossiers.
The Commission also published what it called a 'non-paper' on financial services, another problematic TTIP area in which the EU especially wants to see regulations on both sides very closely aligned.
It stressed that the aim in TTIP is to establish "a framework for regulatory cooperation on financial services ... to make sure the EU and US rules work together" so as to avoid any future global financial crises.
The EU estimates a TTIP deal would bring annual benefits of 119 billion euros ($164 billion) for the bloc's 28 member states and 500 million people, and only slightly less for the United States.
The European Commission said Monday it was setting up an advisory group of business and union people to help EU negotiators in talks on the world’s biggest free trade deal with the United States.
The Commission, the EU’s executive arm, said the special advisory group will promote transparency in the Transatlantic Trade and Investment Partnership (TTIP) talks which began last year
The 14 advisors, from varied consumer, labour and business groups, will help “ensure that a future TTIP genuinely facilitates trade between the EU and the US, and benefits all citizens in Europe.”
They will also help “ensure that Europe’s high standards in, for example, protection for consumers and the environment, are respected and upheld in the negotiations,” a statement said, touching on one of the most sensitive dossiers.
The Commission also published what it called a ‘non-paper’ on financial services, another problematic TTIP area in which the EU especially wants to see regulations on both sides very closely aligned.
It stressed that the aim in TTIP is to establish “a framework for regulatory cooperation on financial services … to make sure the EU and US rules work together” so as to avoid any future global financial crises.
The EU estimates a TTIP deal would bring annual benefits of 119 billion euros ($164 billion) for the bloc’s 28 member states and 500 million people, and only slightly less for the United States.
