Resolution: Supporting the negotiations to establish a Transatlantic Trade and Investment Partnership.
YFG National Conference, Limerick 2015
Proposed by the YFG International Committee on Saturday March 7th
- Negotiations between the European Union and the United States on a transatlantic free trade agreement began in 2013 and are still ongoing.
- International free trade helps to break down cultural barriers, cut red tape and encourage increased job creation and investment by helping small and large businesses.
- Reducing trade barriers and liberalising trade has always been a core aim of the European Union, and a transatlantic free trade initiative has been a longstanding policy goal.
- Previous trade agreements and common membership of the World Trade Organisation means that trade barriers between the European Union and the United States are already low by international standards.
- Collectively, the European Union and the United States of America comprise 33% of world trade in goods, 40% of world trade in services and 60% of global GDP.1
- Total US Investment in the EU is three times higher than in all of Asia, while EU investment in the US is eight times higher than EU investment in India and China combined.2
- The EU and the US enjoy the largest bilateral trade relationship and enjoy the most integrated economic relationship in the world.
- TTIP is projected to stimulate the EU economy by €120 billion and the world economy by €100 billion without incurring debt.3
- Ongoing negotiations allow governments to resolve legitimate concerns that may exist regarding proposed content.
- The final draft of the agreement has not yet been agreed.
- There exists much misinformation regarding the implications of the agreement particularly in relation to claims regarding the outsourcing of public services, the privatisation of public services, reduced democracy,environmental protection, food safety, workers' rights and the protection of private property which the European Commission has repeatedly shown to be false.4
Young Fine Gael:
- Calls for the swift conclusion of TTIP negotiations and the establishment of the world's largest free trade zone.
- Calls for TTIP to include a robust Investor-State Dispute Settlement Mechanism which is the best system to ensure that the provisions of the agreement are properly enforced for the benefit of consumers.
- Supports the European Union's current public consultation efforts regarding TTIP.
- Calls on the Irish government to establish its own public consultation process in order to increase awareness of TTIP among the Irish population and to combat misinformation.
- Calls on the government to continue to work with its EU and US partners to ensure that Irish and European interests are protected and advanced through this agreement.
- Calls for the enactment of a major campaign by the EPP and its member parties in support of the agreement.
1 IMF October 2013
2 European Commission
3 European Commission
4 Letter from Commissioner Cecilia Malmström to Lord Livingston, 26/01/2015; European Commission.