EU-US Transatlantic Trade and Investment Partnership on the move

Date

12 Apr 2013

Sections

Global Europe
Trade & Society

On 10-11 April 2013, CLEPA along with MEMA, ACEA, AAPC and RMA attended the public session of the EU-US High Level Regulatory Cooperation Forum (HLRCF), at the US Chamber of Commerce in Washington, in the presence of officials from the European Commission and the Office of the United States Trade Representative (USTR).

The purpose of the public meeting was to define an agreed set of regulatory priorities for a future US-EU Transatlantic Trade and Investment Partnership (TTIP). It is envisaged that this public input will help to identify immediate and longer-term goals and the potential mechanisms needed to accomplish them. The EU expects TTIP to bring about higher regulatory convergence and reduction of expenditures on certification and validation between the world’s two biggest trading partners.

“The main long-term benefits of regulatory convergence are cost savings for component production and certification, resulting in more available funds to invest in research and innovation. This will lead to a much-needed boost in economic growth, international competitiveness and job creation, on both sides of the Atlantic. Currently, most costs are borne from having to design two different sets of automotive component parts, especially for differing US-EU legislative requirements for safety and the environment”, explained Mr Jean-Marc Gales, CLEPA CEO.

Other long term benefits flowing from regulatory convergence are increased trade flows, in both directions. EU and US leaders agree that a strong FTA would add 0.4-0.5% per annum to US and EU GDP, if so vehicle sales could be 1-2 million units higher in the combined block.

CLEPA has compiled a priority list of regulations for which we request convergence and mutual recognition. With this in mind, CLEPA calls upon the regulators to agree on a common road-map for EU-US regulatory convergence.

Global harmonization pursued through the current GTR process at the UN-WP29 in Geneva is of utmost importance for automotive suppliers. Achieving higher convergence with the USA would encourage other third countries to follow one global harmonisation process.

“Overall, what is essential for the success of the TTIP is a high-level commitment and cooperation from the policy-makers and regulators, at the highest possible level”, concluded Mr Gales.

Note to Editors

CLEPA is the European Association of Automotive Suppliers.

104 of the world's most prominent suppliers for car parts, systems and modules and 25 National trade associations and European sector associations are members of CLEPA, representing more than 3 thousand companies, employing more than 5 million people and covering all products and services within the automotive supply chain. Based in Brussels, CLEPA is recognized as the natural discussion partner by the European Institutions, United Nations and fellow associations (ACEA, JAMA, MEMA, etc).

For more information, please contact: Mrs. Amalia Di Stefano |CLEPA Deputy CEO |a.distefano@clepa.be | Tel.: +32 2 743 91 35 and consult www.clepa.eu