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EU publishes proposals on TTIP regulatory cooperation

Xinhua, February 10, 2015 Adjust font size:

The European Union (EU) on Tuesday published textual proposal on regulatory cooperation in Transatlantic Trade and Investment Partnership (TTIP) which was discussed by the EU and United States last week as part of ongoing transparency initiative.

The two sides concluded the eighth round of TTIP negotiations on Feb. 6 focusing mainly on customs duties and regulatory cooperation.

This textual proposal is the EU's initial proposal for legal text on "Regulatory Cooperation" in TTIP. It was tabled for discussion with the US in the negotiating round of last week (February 2-6) and made public on Tuesday.

The actual text in the final agreement will be a result of negotiations between the EU and US.

Regarding why regulatory cooperation matters in TTIP, EU Commissioner for Trade Cecilia Malmstrom said on her blog, the European and American systems of regulation are among the most advanced and sophisticated in the world but the two do have different attitudes to some aspects of regulations.

"Regulatory cooperation is about identifying such areas, checking if cooperation is possible - and if the answer is 'yes', then trying to find best solutions and learn from each other," she added. Endit