Local view for "http://purl.org/linkedpolitics/eu/plenary/2014-07-15-Speech-2-242-000"
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"EU-US economic relations include enormous unused potential. Together they make up half of global GDP and 30 % of world trade (2012). The transatlantic economy is responsible for 15 million jobs and EUR 497 billion in trade flows. If the TTIP comes into force it will bring the EU overall annual GDP gains of 0.5 % extra (EUR 119 billion, EUR 545 per EU household). It is forecast that it would not only benefit directly the EU and US, but would also contribute EUR 100 billion to global GDP. It would boost the labour market on both sides of the ocean and create extra opportunities for small- and medium-sized enterprises. The main importance lies in the fact that the TTIP would not only boost economies but would provide significant new momentum for political relations. The EU and the USA are the backbones of international democracy and leading forces in a free and liberal global arena. Certain controversial issues like data protection need to be addressed in a responsible way. However, they should not be used as pretexts to slow down overall progress and turn attention away from the crucial economic and strategic benefits successful conclusion of the TTIP will provide."@et1
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