Lack of significant progress on multilateral negotiations at the WTO continues to illustrate the importance of bilateral and regional trade agreements, which drive high standard rules, greater regulatory cooperation and the removal of trade and investment barriers, thereby enabling competitiveness and economic growth.
Dow strongly supports the European Commission’s drive for the timely conclusion and implementation of key bilateral and regional free trade and investment agreements with all key partners, including the United States (TTIP), Japan, India, Vietnam, Mercosur and the Gulf Cooperation Council (GCC). These will all benefit the respective economies and our customers, suppliers and employees.
Dow strongly advocates for completion of an ambitious TTIP agreement that removes all remaining tariffs, and works towards the reduction/removal of ‘behind the border’ barriers to trade through regulatory cooperation.
It is absolutely not the case that regulatory cooperation will oblige regulators in either the EU or U.S. to lower standards in any way.
We are convinced that the reduction/removal of trade barriers through TTIP can be a significant engine for innovation and growth in both the EU and U.S.
A successful TTIP will establish an important reference point for the development of global trade and investment in the 21st century.