Deutsche Welle, 11 November 2013
The EU and
the United States have resumed talks on the world’s largest free trade accord.
But the current second round of negotiations is overshadowed by the US spying
scandal which has resulted in a breakdown of trust.
Originally,
the second round of talks on the so-called Transatlantic Trade and Investment Partnership (TTIP) between the European Union and the United States was
scheduled to be held in October. However, the US government shutdown postponed
negotiations.
Moreover,
allegations that the US intelligence agency NSA spied on EU leaders, including
German Chancellor Angela Merkel, sparked bitter recriminations and calls in
Europe to halt TTIP talks.
Issues of
trust had been raised, an EU official close to negotiations told the German DPA
news agency on Friday, adding that the matter would not be a subject on the
agenda of the talks.
Nevertheless,
the EU's personal data protection standards would not be compromised in the
discussions as the transfer of data in general was a key component of a modern
economy, the official said.
The current
round of talks, which began Monday, covers services, investment, energy, raw
materials and focuses on regulatory issues. Negotiations were still in an exploratory
phase, the EU official said, adding that it would take a further round to
identify more clearly where the talks might need a political impulse.
Tariffs
between the EU and the United States are already rather low, meaning that the
free trade talks need to focus on reducing regulations and bureaucratic
hurdles. Controversial sectors are said to be agriculture, including food
safety, as well as the auto industry. Harmonizing regulatory standards in the
car industry, for example, might cut costs by 20 percent, the EU estimated.
On balance,
a transatlantic free trade deal would bring annual benefits of 119 billion
euros ($159 billion) for the EU and only slightly less for the US, the bloc
calculated.
A third
round of talks is scheduled for December 16 in Washington as both sides aim for
a final accord by late 2014.
uhe/dr (dpa, AFP)
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