Alfred Sant demands EC plans on TTIP’s negative impact on Malta
Alfred Sant, Head of the Labour Delegation at the European Parliament, has asked the European Commission to provide information on its plans to counter possible negative impacts suffered by Malta and any individual member state of the European Union with the proposed ‘Transatlantic Trade and Investment Partnership’ (TTIP) between the EU and the United States. Dr. Sant told the EC that a 2016 study conducted by the ‘World Trade Institute’ suggests that the impact of the TTIP will have an uneven distribution of economic gain in different sectors and in the different Member States. Dr. Sant asked the Commission to provide information, as based on current economic indicators as well as the current negotiations forecasts, on the following:
•The expected impact on the national income level (GDP) of each Member State of the EU;
•The expected changes in the industry sectors format for every Member State;
•EU level plans at both the macroeconomic level, as well as at the EU budgetary level, to counter possible negative impacts suffered by any individual Member State.
Last Sunday Dr. Sant told the Valletta Labour Party Annual Conference that Malta will be the only EU member state whose economy will decline with the proposed ‘Transatlantic Trade and Investment Partnership’. The Study revealed that the TTIP is expected to boost member state income levels by an average of 0.5%. The only exception, states the Report, is Malta with a decrease of 0.3% in its economy and a decline of 0.7% of its investment. Dr. Sant said this deserves full debate and study in Malta. ‘People need to be aware of what the stakes are and what a reasonable position could enhance Malta’s interests in the framework of EU free trade and investment agreements,’ remarked Alfred Sant.