TTIP “historic” for chemical industry

Brussels – AmCham EU and the European Chemical Industry Council (Cefic) have stressed the importance of a cross-continental agreement for the chemical industry at a joint event on the Transatlantic Trade and Investment Partnership (TTIP).

"The chemical industry has called for EU-US free trade negotiations for the past 20 years and considers TTIP as historic opportunity for the transatlantic community," said Cefic director general Hubert Mandery at the event on 12 May.

The US, he noted, is by far the EU’s biggest trading partner both in terms of exports and investment.

EU trade negotiator and European Commission Hiddo Houben stated that the negotiations were progressing and were about “half-way through”.

“The European Union and the United States now have consolidated texts for 12 chapters, with the aim for an eventual 25 chapters in the final text,” Houben was quoted as saying in a Cefic press release.