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Round table talks on TTIP impact on Romania’s economy
The round table talks on the impact of the Transatlantic Trade and Investment Partnership (TTIP) on Romania’s economy, organized by the EC Representative office on May 19, 2015 focussed on benefits brought by the accord and preoccupations concerning important aspects of negotiations,such as the system solving litigations between investors and the state.
“Trade is essential for prosperity in Europe. 31 million jobs in Europe depend on exports - that means 14% of total labor force. By opening markets for trade and investment in the world, we intend to create new jobs, when we have 25 million jobless people in EU. Since 90% of world increase is expected to happen outside Europe in the next 15 years, these are jobs with a future. I hope that Romania’s economy will take advantage of economic increase opportunities offered by an accord which could create the largest common market in the world,”said Angela Filote, the head of the EC office at the round table talks.
“Estimates foresee a general positive economic effect of the TTIP accord on Romanian economy. So Romania’s GDP may grow by 0.25% annually, once the accord is fully applied. Moreover, the US balance of trade would improve, as an increase of 35% of exports to that country is estimated, compared to an increase of bilateral imports by 25%. Last but not least, we should point out that 90% of benefits estimated would come from efforts to reduce non tariff barriers, the elimination of tariff ones”, said Lucian Cernat, senior economist of the EC General Department for commercial policies.
The negotiation and conclusion of TTIP is one of the 10 priorities of Juncker Commission. The transparency action promoted by the new Commission supposes the debate of the accord with all interested parties and with the media.