Brussels, 01/04/2015 (Agence Europe) - In its opinion ahead of the European Parliament's recommendations on the transatlantic trade and investment partnership (TTIP) negotiations, the foreign affairs (AFET) committee underlines the strategic importance of TTIP beyond its trade aspects - in particular for shaping common standards at the global level. The AFET committee is chaired by Elmar Brok (EPP, Germany) and its opinion was adopted on Tuesday 31 March.
The opinion was compiled by Francisco José Millan Mon (EPP, Spain) and adopted by 35 votes in favour, 20 against and 5 abstentions. The AFET committee underlines in its opinion the “high geopolitical importance” of TTIP, given the US pivot towards Asia and given the key role of the future transatlantic agreement in strengthening and shaping rules-based global trade and economic governance founded on EU and US shared values.
In the AFET committee's view, TTIP could contribute to establishing common rules and standards that could later be adopted at global level. The committee's opinion nevertheless insists on the need for TTIP not to erode consumer protection, health, labour rights or environmental standards, but rather to seek to achieve higher common standards “as a model for the world”. Furthermore, the AFET committee MEPs insist that the chapter on investment protection should not include any provision which could undermine the right of the EU and its member states to regulate in pursuit of legitimate public policy objectives.
The AFET committee also argues for the inclusion of a strong chapter on energy in TTIP. It calls on the European Commission to explore the potential to diversify the EU's hydrocarbons supply, while ensuring that high environmental standards are maintained, a smooth transition to a low-emission economy is made and ambitious EU climate objectives are met.
In addition, the AFET committee lays emphasis on deepening transatlantic parliamentary cooperation, but calls for the strengthened regulatory cooperation to respect the parliamentary rights of the EU and US legislators. The committee also asks the Commission to do more vis-à-vis the US authorities in order the enhance transparency and communication with civil society.
The AFET committee calls for the final text of the TTIP agreement to be expanded to allow for close cooperation with the countries with which the EU and the US have free-trade agreements and for the countries that might be affected by TTIP to be consulted - in particular Canada and Mexico because of the North American Free-Trade Agreement (NAFTA). (Emmanuel Hagry)