The independent consultant carrying out a Sustainability Impact Assessment (SIA) for the European Commission on the trade agreement being negotiated between the EU and the United States published today its draft interim report.
The technical report highlights the opportunities that a Transatlantic Trade and Investment Partnership (TTIP) could create for people and businesses across Europe, and is now available for public consultation. This work is being conducted by Ecorys, in a process involving wide consultation with stakeholders. The 400-page report indicates that all Member States’ economies would grow as a result of the new trade agreement. The study also predicts that EU exports to the US would rise by 27% and a mix of social indicators shows a combined benefit both for European and US citizens. The report goes beyond the numbers to also look in detail at the social and environmental impact that TTIP could have.
Commenting in a blog post, EU Trade Commissioner Cecilia Malmström said: "This is a snapshot based on assumptions about a future TTIP deal. Needless to say, being a draft version to now be scrutinised by stakeholders and others, this assessment should be taken with a pinch of salt. The economic analysis is based on modelling, with many assumptions and caveats. We should thus be cautious when analysing numbers, especially when it comes to things like market data that may depend on many other factors. That being said, the report does highlight the many opportunities TTIP presents for the EU. I believe one particular thing cannot be scientifically captured in any study, however – the impact of TTIP on Europe's ability to shape globalisation according to our own standards. Modern trade agreements are one of the tools at our disposal to shape globalisation, making it more responsible. With this in mind, both TTIP as well as our trade agreement with Canada (CETA) aim to include progressive chapters on sustainable development, including on labour rights and the environment." All interested stakeholders will now have the opportunity to review the draft and offer feedback, before Ecorys moves on to work on the final interim report and recommendations for the end of 2016.
The Commission will also organise a civil society dialogue with the authors of the report, which will take place on 23 May. The Commission has been carrying out sustainability impact assessments on all negotiated trade agreements since 1999.
These assessments take place during the negotiations and feed into the work of the negotiators as the negotiations evolve.
