5 Apr 2016

What will TTIP mean for the UK?

Dr Koen Berden, Director of Outreach at the World Trade Institute, presented the "TTIP and the EU Member States” study at a Euractiv-organised panel in London on 24 March.

With him on the panel were Jacqueline Minor (Head of Representation of EU to the UK), Verity Threlfell (Assistant Director Transatlantic and International Unit, BIS), Owen Tudor (Head of EU and International Relations Trade Union Congress), Rem Corteweg (Centre for European Reform), and Tim Adamson (AmCham EU). 

The well attended event included senior representatives of companies, think tanks and NGOs.

The study shows that 27 out of 28 EU Member States will gain economically from TTIP, but the results diverge. The eight inserts in the study also highlight some of the challenging issues: TTIP matters for SMEs, and in TTIP a balance needs to be struck on protecting investments on the one hand, and retaining the right of states to regulate on the other.

For the UK the effects of TTIP would potentially be positive, related to the deep economic and investment relationship between the UK and the US. GDP is expected to be 0.4% higher each year with TTIP, wages are expected to go up, and investments are set to increase. Bilateral trade would go up especially for the automotive parts and components trade, chemicals trade, and financial and insurance services.

A video made at this event can be found by following this link.