Hanover: Banging the drum for TTIP

While attending the Hanover Trade Fair, US President Barak Obama and German Chancellor Angela Merkel pushed for the free trade agreement between the EU and the US.

The President believes that, whilst ratification is unlikely to be achieved this year, it should be possible to conclude negotiations. Meanwhile scepticism is growing in the EU. Speaking up for TTIP in Hanover, Obama said: “We will be able to remove a great many regulatory and bureaucratic blockades”. Merkel also called for talks to be expedited. “It is good for the German economy; it is good for the whole European economy,” said the Federal Chancellor. The role of private arbitral courts remains a contentious issue in the negotiations.

cep has clearly indicated its position on this subject and rejected them as part of TTIP. Instead, a genuine international court is required with independent judges who are remunerated irrespective of the cases to be decided.

The TTIP negotiations have been ongoing since 2013 and will be entering their 13th round in New York this week.