Maltese MEPs insist TTIP must maintain Europe’s standards

Maltese MEPs have said that a proposed free-trade agreement between the EU and the United States would benefit Maltese industry, but have insisted that a final deal must not come at the cost of Europe’s standards of protection.

“While the Transatlantic Trade and Investment Partnership is hugely important, it should not come at any cost", Nationalist MEP Roberta Metsola said during a meeting with business representatives at Europe House. “However, the agreement ought to be in line with our high standards of protection of the environment, health, safety, privacy and data protection". Quoting a European Commission report, she said the removal of trade barriers with the US could potentially increase Malta's real capital income by some 4.84%.

Labour MEP Alfred Sant stressed that US negotiations are “reluctant” to register any meaningful progress on the financial services sector, partially because US operators in this field are already significantly present in Europe.”

Labour MEP Miriam Dalli emphasised that Europe has drawn red lines when it comes to issues such as the transparency of clinical trials of new pharmaceutical products.

"It is important that stakeholders at national level prompt us with their timely input about any issues and concerns that we could flag up,” she said.

TTIP talks have been ongoing since 2013 and the 10th round of negotiations is due in mid-July. The proposal seeks to remove tariffs and trade restrictions between the EU Member States and the US, so that companies from either side of the Atlantic would be better able to access their respective markets.

The agreement intends to address the removal of customs duties on good and services, dismantle regulatory barriers such as bureaucratic duplication, and improve cooperation when it comes to setting international standards.

Critics have warned that the removal of barriers could pave the way to the commercialisation of health and education in Europe, as well as to the downgrading of European workers’ rights, trade union rights and food labeling laws.

A particular bone of contention is the TTIP proposal to set up an investment-to-state-dispute settlement (ISDS) mechanism that will allow multinational corporations to settle disputes with governments through international arbitration rather than through national courts. Anti-TTIP activists have warned that this will allow companies to sue governments for any state decision that could harm their future profits.