Concept in Definition ABC

The acronym TTIP stands for Transatlantic Trade and Investment Parthership, which can be translated as Transatlantic Trade and Investment Association. It is an agreement that took place in 2013 and by which the United States and the European Union initiated a period of negotiations to create a new framework of relations on trade, services and the investments.

Although at the beginning of 2016 it is unknown how the TTIP negotiations are going, there is a belief generalized that this pact will be a free trade agreement that will have consequences for the whole of the economic activity.

General approach of TTIP supporters

Those who maintain that this agreement is positive affirm that the purpose of the TTIP is to establish better standards and controls to facilitate trade, optimize administrative procedures and increase investments. These objectives may translate into a reduction in tariffs and arbitration tribunals to protect the interests of companies.

The analysts who defend the new agreement consider that all this will mean an improvement in the competitiveness of the European Union, since the current regulatory dispersion will disappear and trade relations between the European Union and States will become more dynamic United. On the other hand, it is believed that an increase in commercial activity will be accompanied by more employment, more

consumption private sector and, consequently, an overall improvement in economy.

The most significant criticisms, the TTIP raises all kinds of suspicions

- First, an important part of the fine print of the foreseeable agreement is unknown.

- Second, it is stated that what is good for large corporations is not always beneficial for citizens.

- Third, negotiations are conducted in secret, somewhat contrary to the idea of democracy and information transparency.

On the other hand, the secrecy raises a whole series of suspicions about the true truth of the TTIP cloning of species to obtain a greater cost effectiveness, hormone-treated meat or genetically engineered for unknown purposes).

The TTIP generates suspicions in very diverse groups: the defenders of the environment fear that control over Energy sources to increase profits, unions see labor rights jeopardized and small business associations consider that the small entrepreneur will not be able to compete in a framework where large corporations have a powerful disproportionate.

Photos: iStock - Alex-White / Eduardo Luzzatti Buyé

Topics in TTIP