David Martin, Labour's senior Member of European Parliament for Scotland, will today (Tuesday 18 November, 2014) host a major event in Brussels scrutinising the negotiations for the Transatlantic Trade and Investment Partnership (TTIP).
Mr Martin who is the Socialist and Democratic (S&D) Group spokesperson on international trade said: “This major Partnership between the two largest trading blocs in the world, the EU and the USA, must benefit the EU citizens as well as EU businesses.”
TTIP aims at eliminating, or reducing substantially, those obstacles that prevent products from arriving on the consumer market cheaper and faster. The sectors that are likely to benefit from improved trade relations include: metal products; processed food; chemicals; manufactured goods; transport equipment and, especially motor, vehicles.
“I want to make sure this is a win win situation for workers and consumers as well as employers and businesses,’ said David Martin. Studies have shown that the volume of trade should increase, but so should the wages of both skilled and less skilled workers – they could rise as a result of this agreement by roughly 0.5% for both skilled and less skilled workers if we get this deal right.
It is feared that the social costs of the regulatory changes might lead to substantial short term adjustments and a lowering of standards for EU consumers. Today's conference organised by the S&D Group will scrutinise ways TTIP can protect and enhance consumer protection while beginning to set high global standards.
Mr Martin said: “There is real potential in TTIP to get the global economy moving again, but what is clear is that we do not want an agreement which will put workers or consumers at a disadvantage.
"If the EU and US don't seize this opportunity to set the global standards, we will become followers of rules set by China; far below our standards today."