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New study underscores TTIP’s benefits for the EU and US

Wednesday, January 21, 2015

Yesterday, the American Chamber of Commerce to the European Union’s (AmCham EU) annual Transatlantic Conference provided the platform for the organisation to stress the importance of TTIP, and allowing Joseph Quinlan to launch The Transatlantic Economy 2014 and its latest findings.

The economic ties between Europe and the US are strong. The Transatlantic Economy 2014 report found that the transatlantic economy generates close to €5 trillion in commercial sales a year and supports up to 15 million jobs on both sides of the Atlantic. Most importantly, the recent economic and financial crisis has not undermined the strength of the transatlantic economy, but rather highlighted how integrated our economies are. The US and Europe are each other’s main source of foreign direct investment. Europe has attracted 56% of US global foreign direct investment since 2000. European investment in the US is also substantial, with total assets of European affiliates in the US estimated at over €8 trillion in 2012.

The release of the report follows the fourth round of TTIP negotiations in Brussels. The findings in The Transatlantic Economy 2014 only reinforce the overriding objective of the EU-US talks: to further deepen and strengthen the world’s largest economic and commercial axis.

‘These statistics are only the tip of the iceberg’, said Hendrik Bourgeois, Chair of AmCham EU. ‘With TTIP, these already high levels of trade and investment will only increase and create sustainable growth and job creation in the EU and the US’.

AmCham EU speaks for American business committed to Europe on trade investment and competitiveness issues. It aims to ensure a growth orientated business and investment climate in Europe. AmCham EU facilitates the resolution of transatlantic issues that impact business and play a role in creating better understanding of EU & US positions on business matters.

For more information, please contact: Anna McNally, Communications Director Email: anna.mcnally@amchameu.eu Direct: +32 (0)2 289 10 16