Statement of the British-American Business Council on the Transatlantic Trade and Investment Partnership (TTIP)
Trade and Investment is key to successful economies. Trade enables businesses to grow by increasing their share in the global economy, to innovate and to drive up their productivity. Consumers benefit from lower prices and greater variety of goods. Investment brings new jobs or protects existing ones. It improves our economy’s position in a highly competitive global marketplace, and contributes to jobs and growth. For every economy, building new commercial relationships, opening of new export markets and attracting foreign investment is crucial.
The existing trade and investment ties across the Atlantic are good examples of the benefits that globally integrated economies enjoy. The EU and the US are each other’s most important trade and investment destinations. Millions of people of both sides of the Atlantic are employed in the transatlantic economy.
The benefits of the transatlantic economy is particularly exemplified by the US-UK economic relationship. The integration of both markets brings huge benefits to businesses, workers and consumers alike.
Despite its integration, barriers remain that prevent businesses, particularly smaller businesses from taking full advantage of opportunities that the transatlantic economy offers. There are thousands of companies who are already successfully doing business across the Atlantic. But there are many more who would follow suit if the potential of a truly transatlantic economy were to be realized.
This is why we strongly welcomed the courage that leaders of the US and the EU had in 2013 to launch negotiations for an ambitious and comprehensive Transatlantic Trade and Investment Partnership (TTIP) agreement.
The underlining objective for TTIP is its potential to support jobs and to promote growth and competitiveness across the Atlantic. Any barrier that excludes or delays trade and investment across the Atlantic, is a barrier to jobs and growth. This particularly important as some countries in the transatlantic economy are still making their way to recovery.
The transatlantic economy has also proven to be a pillar of stability in an unpredictable world economy. This pertains to its strength and position as a leading economic relationship, but also its ability to defend and promote fundamental values and standards to businesses and people in our societies.
Strengthening the transatlantic economy through a comprehensive trade and investment agreement is a unique opportunity for governments to ensure prosperity for our economies, confirming our contribution to the present and future world trading and investment system.
We, as business leaders of the largest transatlantic network, call on US and UK governments and stakeholders to maintain the momentum necessary for negotiations to come to a successful conclusion so that we can shape the future with a comprehensive, well-functioning, delivering TTIP.
BritishAmerican Business Council of Georgia
British American Business Council of New England, Inc.
British American Business Council of North Carolina, Inc
British-American Business Council, Chicago
The British American Chamber of Commerce, Ohio Region
British American Business Council – Houston
British American Business Council of Los Angeles
BritishAmerican Business, New York City
British American Business Council of Orange County
Jane Hirschhorn Rosenberg
British American Business Council of Philadelphia
British-American Business Council of Northern California
British American Business Council of the Pacific Northwest
Grant D. Petersen
British American Business Council Tampa Bay Region
Triangle NC British American Business Council
Patricia A. Karhuse
British American Business Association of Washington DC
The British Canadian Chamber of Trade and Commerce
British American Business Council in the Midlands
BritishAmerican Business, London
CEO of BritishAmerican Business London and New York
British American Business Council in the North West
Scottish North American Business Council
British American Business Council of Miami
British American Business Council of Michigan