The agreement is expected to bring in more meaningful and well-paid jobs for employees, to improve consumer purchasing power and to expand the range of products.
The TTIP agreement includes measures to remove trade barriers, such as reduced customs duties and regulatory convergence. Moreover, it would unify standards and streamline business licensing procedures.
The co-operation between the EU and the USA would advance shared values, including democracy and human rights. The agreement would provide an opportunity to define trade policies in more transparent and responsible terms. It would likely also serve as a model for future trade agreement.
“The rules set by the agreement concerning investment protection must, however, not impede the enactment of new national laws. Co-operation in the energy sector would benefit the EU states as they could increase gas imports from the USA,” says Aleksi Kuusisto, Adviser for International Affairs at SAK.
The agreement would strengthen the position of EU and US workers in global competition through more effective compliance with international work-related norms in countries outside the EU and USA.
“It is vital to create a functioning model that would also promote fundamental rights at work, as stipulated by the ILO, in trade agreements,” states Risto Kousa, Head of International Affairs at STTK.
The trade union confederations emphasise that both the negotiations and regulatory co-operation must be open, and the employee organisations must have the opportunity to be involved. Some NGOs have already criticised the preparations of the TTIP agreement for its lack of transparency.
“The Finnish and Swedish employee organisations have a positive view on the agreement – on certain, clearly stated conditions. A well negotiated agreement would benefit the employees in Finland and the rest of the EU as well as in the USA," says Markus Penttinen, Head of the International Department at Akava.