Fair Rules for Free Trade. Socio-ethical Guidance for a Transatlantic Trade and Investment Partnership (TTIP)
Committee for Society and Social Affairs: The Transatlantic Trade and Investment Partnership (TTIP) has been accompanied by a controversial discussion in the general public and also within the Church. In light of this, the following text presented by a Group of Experts wants to explain the different arguments and to offer socio-ethical orientations.
The statement assumes that cross-border free trade must always be assessed as to whether and how it helps to increase general prosperity and to improve the development opportunities of the poor. For this purpose a regulatory framework is needed. The objective of a trade agreement between the EU and the USA is most of all the reduction of non-tariff-based trade barriers. Necessary and justified standards, as for example, the level of protection for consumers and the environment as well as the political regulation potential must not be reduced in this context. Moreover, the expert text calls for a pioneering reformed investment protection within the framework of the Transatlantic Partnership. At the same time the experts ask for optimum transparency and suggest that after conclusion of an agreement empirical data on trade, investment and social policy developments should be reported regularly in order to counter missteps.