European Parliament votes in favour of ambitious free trade agreement with America

The European Parliament voted on the TTIP, the free trade agreement the EU wishes to conclude with the US. At the same time, the Parliament formulated several interesting recommendations to reach a balanced and well-supported agreement.

Since June 2013, the European Union and the United Nations have been negotiating the Transatlantic Trade and Investment Partnership (TTIP). This free trade agreement must bring about (more) economic growth, extra investments and job creation by removing trade obstacles. N-VA Member of the European Parliament Sander Loones sees important opportunities for Flanders in the TTIP: “A good trade agreement is particularly beneficial to our consumers. They will have a broader choice of better products at lower prices. Furthermore, European companies will have easier access to the American market. This is particularly important for our open Flemish economy, which is still responsible for 80 percent of Belgian export.”

Myths busted
Yet the TTIP still receives a lot of criticism. According to some, the negotiations are a threat to our strict European standards for food, environment, health and consumer protection. Moreover, the TTIP would be an infringement on our public services and offer too much protection to large investors. However, Loones refutes this: “This report actually busts the many myths about the TTIP. For example, public services in education and healthcare are not in the TTIP scope. The European precautionary principle also remains intact. And no one need be afraid of hormone-treated meat or chlorine chickens flooding our European market in the future.”