Writing in today’s edition of The Hill, European Union Ambassador to the United States João Vale de Almeida welcomes the WTO agreement reached in Bali last week as it sets up a promising 2014 for global trade. This is particularly encouraging as the EU and the U.S. are moving ahead at full speed with the third round of Transatlantic Trade and Investment Partnership (TTIP), which takes place in Washington, DC next week.
“Both the U.S. and EU need open economies to recover, thrive, keep our jobs and create new ones. More than 38 million U.S. jobs depend on trade, with one-third of manufacturing jobs stemming from exports. One in 3 acres on American farms is harvested for exports. Trade, trade, trade means jobs, jobs, jobs.”
Ambassador Vale de Almeida points out that the Bali agreement shows that ambitious regional trade deals can complement the multilateral system and even energize it. “No regional deal will be more relevant than TTIP, which promises to be a game changer,” he writes.
“With 2014 shaping up to be the year of ‘trade for jobs,’ we look to Congress to engage in this drive. This applies notably to the overarching authority only Congress can confer on the executive branch to negotiate on trade, but also for changes in U.S. statutes, where necessary.”