US, EU Make Final Plea For Free Trade Deal
Rukhshan Mir (@rukhshanmir) Published January 17, 2017 | 11:30 PM
WASHINGTON, , (APP - UrduPoint / Pakistan Point News - 17th Jan, 2017 ) - With the anti-globalization wave impacting major elections, including that of US President-elect Donal Trump, the United States and European Union made a final pleaon Tuesday to conclude a trans-Atlantic free trade deal.
Just three days away from Trump's inauguration, and on the same day British Prime Minister Theresa May unveiled her Brexit blueprint, Washington and Brussels issued a joint report to sell the benefits of the massive trade pact that just needs the political will to conclude.
The rationale for the Transatlantic Trade and Investment Partnership (TTIP) "is even stronger today than it was when we started these negotiations," US Trade Representative Michael Froman said in a statement.
"We launched the TTIP negotiations in 2013 because we were convinced that the transatlantic trade relationship, already the biggest in the world, could be an even stronger driver of job creation, growth and competitiveness on both sides of the Atlantic.
" The joint report said that "with the political will to prioritize long-term gains for our economies and our broader relationship, the United States and the EU could achieve what we set out to do in 2013: conclude an ambitious, balanced, comprehensive and high-standard agreement." The sides have held 15 negotiating rounds in the effort to reduce tariff and regulatory barriers to trade and investment between the two economies.
However, the report acknowledged the parties have "significant work to do to resolve our differences in several important areas of the negotiations." EU Trade Commissioner Cecilia Malmstrom said "The EU has left no stone unturned in trying to achieve a balanced, ambitious and high-standard TTIP agreement with clear benefits for citizens, local communities and companies.
We have made considerable, tangible progress." Froman said despite the work that remains to be done, "there is a lot of value on the table in TTIP, and there is every reason to finish this work."
Related Topics
Recent Stories
Pakistan marks World Press Freedom Day
High-level Saudi business delegation due on May 5
Stocks heat up as US labour market cools
President approves Tax Laws (Amendment) Bill 2024
Implementation of merit, justice to oppressed segments top priorities: CPO
Overseas Kashmir community delegation calls on AJK President, discusses latest s ..
Govt believes in freedom of press: Amir Muqam
Labour urges UK election after Tory losses
Health authorities asked for action against alleged illegal tenders at Services ..
Spain scraps national bullfighting prize sparking debate
Lahore High Court (LHC) Chief Justice Malik Shahzad Ahmad Khan visits Rawalpindi ..
ATC extends interim bail of PTI founder in 3 cases
More Stories From World
-
Auger-Aliassime in final as 'crazy' Madrid injury curse strikes again
6 minutes ago -
Football: Italian Serie A result
6 minutes ago -
Football: Italian Serie A table
6 minutes ago -
Football: French Ligue 1 table
6 minutes ago -
Bill May or may not make Olympic history in the pool
26 minutes ago -
USA include former Kiwi all-rounder in T20 World Cup squad
26 minutes ago
-
Canada arrests three over killing of Sikh activist: media
36 minutes ago -
Football: French Ligue 1 results
36 minutes ago -
'Get this done', WHO chief urges pandemic accord talks
36 minutes ago -
Lakers fire head coach Ham after NBA playoff ouster
56 minutes ago -
Tennis: ATP/WTA Madrid Open results - collated
2 hours ago -
Dams strain as water, death toll, rise in south Brazil
3 hours ago