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Participants Meeting of the TransAtlantic Business Dialogue Friday, January 25, 2013 Note of the Meeting The TransAtlantic Business Dialogue (TABD) convened its first meeting under the new banner of the Transatlantic Business Council (TBC) in Davos, Switzerland, on Friday, January 25 on the margins of the World Economic Forum. TABD members and observers met with senior level U.S. Government and EU Commission officials, Irish Prime Minister Enda Kenny, and OECD Secretary General Ángel Gurría. TABD was most interested in learning the status of the High Level Working Group’s deliberations for a EU-U.S. trade agreement, and in sharing TABD priorities on how to shape such a transatlantic economic pact. Participants TABD Members Mark Spelman, Accenture; Sir Michael Rake, BT; Phillip Harrington, CA Technologies; Ambassador Stuart Eizenstat, Covington & Burling; James Quigley, Deloitte; Sven Oehme, EABO; Beth Brooke, Ernst & Young; Jürgen Thumann, Heitkamp & Thumann; Hans Stråberg, Jacob Wallenberg, Investor AB; Alan Buckle, KPMG; Geralyn Ritter, Merck; Brad Smith, Microsoft; Dr. Harry Hendriks, Philips; Peter Solmssen, Siemens; Tim Bennett, Transatlantic Business Council; Dr. Heinrich Hiesinger, ThyssenKrupp; Marc Grynberg, Umicore; Special Guests Prime Minister Enda Kenny, Republic of Ireland Ángel Gurría, Secretary General, OECD Business–Government Dialogue Jean-Luc Demarty, European Commission Michael Froman, White House Jon Leibowitz, Federal Trade Commission Marc Vanheukelen, European Commission Observers Brian Ager, European Roundtable of Industrialists Tom Donohue, U.S. Chamber of Commerce 1 Opening Session with Enda Kenny, Prime Minister of Ireland Prime Minister Kenny greeted all members and guests personally before opening the discussion with an unfettered endorsement of an EU-U.S. trade agreement. The importance of transatlantic trade to Ireland is reflected in approximately 100,000 jobs that are directly linked to U.S. investment on the island. There is strong support for an EU-U.S. trade pact during the Irish Council Presidency of the EU, which has as its priorities: stability, growth, and jobs. The Prime Minister emphasized that the current momentum to launch such a historic negotiation is a once in a lifetime opportunity. At the same time, EU recovery is imperative and reform plans need to be implemented swiftly to ensure the bloc remains an attractive and relevant player in the globalized economy. The prospect of two million jobs an EU-U.S. trade deal could create is crucial on both sides of the Atlantic, as is the boost it would give to the transatlantic and the global economy. The Prime Minister further underscored that the EU is ready to move ahead, and that this Council Presidency’s priority is to pass on the mandate to the EU Commission to launch negotiations with the U.S. There was no apparent reason for the delay of the final report of the High Level Working Group, except for the nomination of the new USTR which is still outstanding. He added that the sooner a transatlantic trade agreement becomes reality the better given the benefits it would yield for both economies. The importance of this deal was part of a recent phone call the Prime Minister had with President Obama. With regard to the UK’s potential referendum on EU membership, Prime Minister Kenny referred to the crucial importance of the single market to Britain. He added that Ireland will remain close to Britain and at the same time stay at Enda Kenny, Prime Minister the heart of Europe. of Ireland Business-Government Dialogue In this session, Michael Froman, Assistant to the President and Deputy National Security Adviser for International Economic Affairs; Jean-Luc Demarty, Director-General and Marc Vanheukelen, Head of Cabinet, both at DG Trade, shared their insights on developments to agree to launch negotiations for a EU-U.S. trade agreement. Mr. Demarty emphasized the great enthusiasm about a potential transatlantic trade deal on the EU side. Member states are very supportive and willing to look at new ways to resolve thorny issues. An example for this willingness to take on a positive attitude was the recent acceptance of lactic acid use on beef carcasses. With this scientifically based decision, the European Parliament has proved that it is possible to move ahead. He emphasized that regulatory issues are particularly difficult to resolve and that strong political push on regulators is vital to ensure their work is ongoing in a coordinated fashion. Even though solutions need to be found for thorny issues, not all challenges will be solved in advance. Instead a framework needs to be built to continue constructive cooperation. 2 Mr. Demarty also noted that economic impact studies conducted by the EU conclude that such an agreement would have a significant positive economic impact on not just the EU and U.S. but also on global trade overall (+240 billion euro). He emphasized that the agreement should be “comprehensive and ambitious”. Demarty also suggested that the negotiations could begin before the summer break. The past has shown the obstacles to a transatlantic trade pact, Mr. Vanheukelen said in his remarks, particularly with regard to technical barriers to trade (TBTs). Thanks to the joint consultation by OMB/OIRA, USTR, DGs Trade and Enterprise, business provided numerous ideas for cooperation in several sectors ranging from automotive to chemicals, healthcare, and cosmetics. The High Level Regulatory Cooperation Forum (HLRCF) will be meeting in April in Washington, DC to further discuss these proposals and systems that would streamline regulations. Legal barriers to improved cooperation are not insurmountable as long as political will and managerial organization drive the process. He added that the EU may appear less attractive due to its current economic woes. It is important to bear in mind that the EU is a significant player in terms of global trade. In the past year, the 27 member states achieved substantial surpluses in manufacturing goods, services and agriculture. Merely on energy a deficit was notified. Mike Froman responded to Marc Vanheukelen’s remarks, reassuring that the U.S. strategy towards Asia does not imply retreating from Europe. Geo-political pressures in the Middle East and the strategically important Asian market should not be considered as a fading desire to cooperate with Europe. The opposite is true: More cooperation is essential, particularly if the transatlantic economy is to become the global benchmark for standards in a globalized world. Tariffs are hence important for a transatlantic trade pact, but they are not the decisive factor. More than ever regulatory barriers need to be tackled in innovative ways. Whether the answer to simplified rules and regulations implies mutual recognition, functional equivalence or other methods, needs to be decided on a case by case basis. Compliance and conformity assessment is another area that requires close collaboration between regulators. This applies to both, existing and new technologies and products. The answers to difficult questions on how to address regulatory divergence are still outstanding, but both sides are committed to find solutions. Business is required to feed ideas into the process in order to facilitate the development of modalities that Mike Froman, White House, Ángel Gurría, OECD, Jean-Luc Demarty, European Commission reduce barriers to trade on a sectoral basis. 3 Asked about the final recommendations of the High Level Working Group, Mr. Froman responded that there was an overemphasis on the report. The current phase should not be considered as pre-negotiations; instead the ongoing discussions are vital to develop answers to the difficult questions. Otherwise the two sides risk entering tedious negotiations that are potentially difficult to be concluded. The timing of the report’s publication is therefore less relevant than its substance. Incoming TABD Co-Chair Hans Stråberg agreed that support from corporations operating on both sides of the Atlantic is crucial to advance transatlantic trade. From his experience as CEO of an appliance company he is well aware of the difficulties related to different sets of regulations. At the same time he noted that the EU and U.S. systems had equal goals in terms of safety; this should facilitate common ground. Approaches such as ‘tested once, accepted everywhere’ should be pursued at a transatlantic level. Tim Bennett, TBC’s new Director General, thanked the government guests for their comprehensive outline of the challenges ahead for a transatlantic trade deal and added that the TBC will be working in sync with the administrations to provide viable solutions, particularly with regard to regulatory barriers. At the same time tariffs need to be tackled in order to provide for the freest possible transatlantic marketplace. TABD members emphasized that intellectual property rights (IPR) has to be a vital component of an EU-U.S. trade pact. A strong IPR chapter is essential given that IP-intensive industries are linked to 35% of U.S. GDP. Any transatlantic agreement should reflect a shared commitment to robust protection of all forms of IP, including patents, trademarks, copyright and trade secrets. Third country concerns such as compulsory licensing, local content requirements, calls for IP “flexibilities”, state-sponsored IP theft and theft of trade secrets, are particularly important aspects that should be addressed at a transatlantic level. At the same time capabilities and aspirations need to be balanced. The recent ACTA experience indicates the limitations of the desire for a strong IP chapter. Mike Froman responded that IP confirmed the strong common interest vis-à-vis third countries. IP issues with each other would however be challenging to tackle and the economic benefits are debatable. There is no need for a big IP chapter to make this a solid FTA. In conclusion the government guests welcomed the active role of the TBC/TABD in the process to launch negotiations. It is crucial that business holds government accountable and pushes for progress.
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