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Challenges and Possible Consequences of Transatlantic Trade and Investment Partnership

In: Financial Environment and Business Development

Author

Listed:
  • Hande Kurtul

    (Yeditepe University)

  • Erkut Akkartal

    (Yeditepe University)

Abstract

In recent years, the European Union (EU) and the USA change their trade policy, and also they began negotiations for signing the most comprehensive free trade agreement. Its negotiations began in the second half of 2013 and is called Transatlantic Trade and Investment Partnership (TTIP), whose key points are transparency, coherence, and nondiscriminatory. With these types of qualifications, EU and US administration believes that this partnership will boost economic power, and not only the EU and the USA but also all countries in the world will benefit from the outputs of the agreement. On the other hand, although their intensions are widely on the same direction, sometimes controversial platforms occur, because both parties do not want to change their implementations at some topics such as conformity assessments, genetically modified products, and hormone-treated meat. Accordingly, the objective of this paper is to identify mainly the key challenges of the TTIP with qualitative and quantitative data. Descriptive analysis of the data will be displayed. The agreement has two main bodies as horizontal side which means regulatory cooperation and sectorial side. In this paper, regulatory cooperation and its context are considered as essential subjects. Sectors have more details and it is hard to explain all situations in sectors. After focusing on the reasons of the existence of the TTIP, the need will be explained. Then the main elements, such as market access, regulatory coherence, and improved cooperation, are mentioned. As a conclusion, mostly recommendations and expectations take part because of the fact that negotiations are going on.

Suggested Citation

  • Hande Kurtul & Erkut Akkartal, 2017. "Challenges and Possible Consequences of Transatlantic Trade and Investment Partnership," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), Financial Environment and Business Development, pages 189-197, Springer.
    • Handle: RePEc:spr:eurchp:978-3-319-39919-5_15
    DOI: 10.1007/978-3-319-39919-5_15
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