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Cefic statement on proposal by EU-US Doing work Group on Jobs and Development

by on March 16, 2013

BRUSSELS, Belgium (PRWEB United kingdom) 13 February 2013

Cefic strongly supports the proposal by the EU-US High Level Functioning Group on Jobs and Development to initiate negotiations on a extensive totally free trade agreement among the European Union and the United States.

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Cefic believes that this kind of an agreement ought to go beyond a straightforward free trade deal to consist of 21st century trade concerns such as regulatory cooperation and other potential non-tariff barriers.

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A trans-Atlantic trade pact would supply a a lot-essential increase to economic recovery in both markets, specially in terms of development and jobs. The United States is previously the European Unions most significant chemicals trading spouse, with total chemical substances trade action reaching 46 billion. A deal amongst the two greatest economies would wipe out 1.5 billion in chemical import duties, numerous hundred million of which involving intra-firm trade.

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Cefic President Kurt Bock explained: A trade agreement would lower expenses of chemical compounds trade, support develop economies and develop jobs on each sides of the Atlantic.

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Regulatory cooperation would also help yield substantial savings for both companies and authorities. Chemical substances will get a prominent location on the EU-US regulatory cooperation agenda and Cefic stands prepared, together with its US counterpart, the American Chemistry Council, to contribute constructively to this work. Essential goals ought to be to simplify regulatory processes, increase transparency and encourage efficiencies this kind of as common information sets and definitions whilst trying to keep the exact same degree of overall health and environmental safeguards.

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The agreement would also give a effective signal for trade liberalisation at a time of looming protectionism and a stalled Planet Trade Organisation agenda.

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For much more information, make contact with: James Pieper, media relations manager, Cefic, on desk mobile phone +32 ()two 676 7398 or by means of e-mail at jpi(at)cefic(dot)be.

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Note to editors:

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About Cefic&#13

Cefic, the European Chemical Market Council, is the Brussels-based mostly organisation representing the European chemicals industry. Developed in 1972, it represents 29,000 organizations, such as SMEs, which make about a fifth of the worlds chemical compounds. For a lot more info, go to http://www.cefic.org.

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