Commissioner De Gucht spoke about the main challenges the EU and the US will face in the negotiations for the EU-US free trade agreement, known as “Transatlantic Trade and Investment Partnership” (TTIP).
Speaking at an event promoting the Ryder Cup golf competition one year ahead of the next tournament in Gleneagles, Scotland, he said that apart from removing customs duties and freeing up trade in services, the most difficult bit will be to reduce regulatory barriers to trade and investment. Here, a “pragmatic approach” will be needed to reduce red tape for companies while at the same time keeping in place the protections that people need. “The goal is not a transatlantic deregulatory free-for-all”, he said.
On a lighter note, Commissioner De Gucht also explained the main difference between the Ryder Cup and TTIP: in the trade deal, Team Europe and Team America should both turn out as winners.
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