EU-America trade agreement positive for all EU member states except Malta, Alfred Sant says

A Study carried out by the 'World Trade Institute' and a number of Universities commissioned by the 'American Chamber of Commerce' in the EU, concluded that the impact of  the proposed trade agreement between the European Union and the United States will be positive for all EU member states, except for Malta.

This was revealed today by former Prime Minister and MEP Alfred Sant while addressing the general meeting of the Labour Party's Valletta section.

Dr Sant referred to the agreement  known as Transatlantic Trade and Investment Partnership (TTIP) being negotiated for a free trade zone covering investments between the EU and the USA. The study, which was published this week, assessed in depth the economic impact that TTIP would have on the member states of the EU.

"In Malta's case, the authors of the study predict that there will be a decrease of  0.3 per cent of the Maltese economy as a result of TTIP, if it is concluded. Also, they predict that there will be a decline of 0.7 per cent in Malta's investment.This is a matter that deserves full debate and study in Malta. People need to be aware of what the stakes are and what a reasonable position on the matter could be, that will enhance Malta's interests in the framework of EU free trade and investment agreements.' said Dr Sant.

TTIP has generated huge controversy in the US and the EU. Among the reasons for this, there has been the fact that negotiations have been carried out in secret and because many believe that the agreement will override national laws. Meanwhile, a huge public relations effort has been unleashed to sell TTIP to EU and US citizens. The same has happened in Malta, said Dr Sant, where we have been assured that TTIP will bring great benefits.

Dr Sant  remarked that decisions being taken at a European level were increasingly having an impact on Maltese society. Very often, this was getting noticed when it had already happened. An essential part of the MEPs' job therefore was to create a greater awareness among the Maltese public regarding important European developments.

from The Malta Independent http://ift.tt/1Q3rsnw
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