Following the announcement of the conclusion of the Transpacific Trade Partnership (TPP)* the Socialists and Democrats in the European Parliament said that there is growing pressure on the European Union to conclude ambitious and sustainable international trade deals.
S&D spokesperson on trade, David Martin MEP, said:
"We need dynamic international trade to stimulate our economy, safeguard our industries and create the high-tech jobs of the future. Today the TPP countries agreed a deal which will cover 40% of the world economy, and the European Union must not be left behind.
"From global market leaders to newly emerging SMEs, EU trade policy must protect and promote the creativity and world class R&D which is based in our single market. Global trade is increasingly based on value-added supply chains connecting suppliers all over the world and we must stay competitive.
"Opening up markets and breaking down trade barriers are the means to an end, and that end must be sustainable, fair and inclusive growth. The S&D Group will watch with interest the provisions which are included in TPP. Some will be models for our future trade agreements; others may not go far enough for the level of ambition the EU should have in labour, environmental and health protections.
"I hope now our partner countries in the TPP bloc can intensify negotiations with the EU with ambitious offers in our bilateral trade talks."
* TTP includes Australia, Canada, Japan, Malaysia, Mexico, Peru, United States, Vietnam, Chile, Brunei, Singapore and New Zealand
