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Caspian Energy Journal Caspian European Club
Tuesday, 16 April 2019 13:00

EU to start negotiations with the United States

EU to start negotiations with the United States

European Union Member States have given the Commission the green light to start formal negotiations with the U.S. on two agreements, one on conformity assessment, and the other on eliminating tariffs on industrial products, Caspian Energy News (www.caspianenergy.net) reports with reference to the press statement of the European Commission.

This is just three months after the European Commission had put forward the mandates and in line with the conclusions of the March European Council, during which EU leaders called for a “rapid implementation of all elements of the U.S.-EU Joint Statement of 25 July 2018”.

The directives for the negotiations cover two potential agreements with the U.S.: a trade agreement strictly focused on industrial goods, excluding agricultural products; a second agreement, on conformity assessment to make it easier for companies to prove their products meet technical requirements on both sides of the Atlantic.

In line with the directives agreed by EU governments, the Commission will further examine the potential economic, environmental and social impacts of the agreement, taking into account the commitments of the EU in international agreements, including the Paris Agreement on climate change.

An economic analysis undertaken by the European Commission already indicates that an EU-U.S. agreement on eliminating tariffs on industrial goods would increase EU exports to the U.S. by 8% and U.S. exports to the EU by 9% by 2033. This corresponds to additional gains of €27 billion and €26 billion in EU and U.S. exports respectively.

More details: http://europa.eu/rapid/press-release_IP-19-2148_en.htm

Person in charge of the newsline: Olga Nagiyeva 

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