Foreign Affairs Council, 21/11/2014, 21 November 2014

Moving forward with the Transatlantic Trade and Investment Partnership (TTIP)

At a meeting of the Foreign Council Affairs on trade issues, the Council confirmed its determination to conclude an agreement with the US as soon as possible.

TTIP will boost economic growth and jobs creation in the EU 

The TTIP should provide significant new opportunities for citizens and companies in the EU and the US. The conclusion of such an agreement will also play a role in the EU foreign policy, politically reinforcing the strategic transatlantic partnership. 

In the mean time, the Council will make sure that the final agreement respects EU standards of quality and member states' legislation. 

Better communicate the benefits of the TTIP agreement

The Council recognised the needs to enhance transparency and dialogue with civil society in order to highlight the benefits for European citizens. 

EU Trade agenda

The Council also adopted conclusions on the priorities of the EU's trade agenda for the next 5 years asking the Commission to update the EU trade strategy and include transparency requirements in negotiations.

About the Transatlantic Trade and Investment Partnership (TTIP)

The EU and US decided to take their economic relationship to a higher level by agreeing to launch negotiations on a comprehensive trade and investment agreement.  It aims to remove trade barriers in a wide range of economic sectors to make it easier to buy and sell goods and services between the EU and the US.

• More about the Trade and Investment Partnership (TTIP)

Other topics on the agenda

Trade negotiations with Japan and Vietnam

EU trade ministers were briefed on the progress made in the negotiations with Japan and Vietnam and the prospects for concluding them in 2015.

Doha Development Agenda

Following a breakthrough reached between India and the United States on food security issues, the Council discussed the prospect of concluding negotiations under the WTO's Doha Development Agenda (DDA).

EU trade ministers also discussed proposals for regulations aimed at updating EU instruments for tackling unfair competition in terms of:

• protection against dumped and subsidised imports
• public procurement in third countries, the conditions under which EU businesses can compete for public contracts