Dear Ambassador Froman and Commissioner Malmström:
As you know, the Business Coalition for Transatlantic Trade (BCTT) is made up of major companies and associations that support conclusion of an ambitious, comprehensive, and high-standard trade and investment agreement between the United States and the European Union.
In anticipation of next week’s tenth TTIP negotiating round, we are writing to urge that significant progress be made to tackle the tough issues on the table. Both the United States and the EU have reiterated their desire to conclude a comprehensive and ambitious accord, and the talks need a major boost if we are to succeed.
Recent events in Greece have underlined the need for sustainable economic growth in Europe. We are firmly convinced that a robust TTIP agreement can be part of the solution, lowering unemployment, generating real wage growth and fostering a healthy investment environment on both sides of the Atlantic. Also, at a time of increased instability around the globe, a vigorous transatlantic alliance is more important than ever, and TTIP offers an opportunity to strengthen our ties.
We also note the European Parliament’s adoption on July 8 of a “mid-term” report on TTIP. We applaud the Parliament’s continued support for the negotiations, but the highly publicized and acrimonious debate around the investor-state dispute settlement mechanism (ISDS) is cause for serious concern. The BCTT insists that an investment chapter within TTIP must include an effective ISDS system that protects investors from unjust discrimination and unfair treatment.
Recent approval in the United States of Trade Promotion Authority should provide welcome momentum for the TTIP negotiations. We urge negotiators from both parties to seize upon this opportunity and redouble their efforts to break the logjam. The time for action is now. We stand ready to assist you in your efforts to conclude an ambitious, comprehensive and high-standard TTIP agreement.
Emergency Committee for American Trade
National Foreign Trade Council
U.S. Chamber of Commerce
Coalition of Services Industries
National Association of Manufacturers
Trans-Atlantic Business Council
United States Council for International Business
CC: Mr. Ignacio Garcia Bercero, Director, D-G Trade, European Commission; EU Chief TTIP Negotiator
Mr. Dan Mullaney, Assistant U.S. Trade Representative for Europe and the Middle East; U.S. Chief TTIP Negotiator