CBI urges Europe leaders to seal Transatlantic trade deal

As the European Council begins, the CBI is urging European national governments to deliver an ambitious agreement that it hopes could create thousands of jobs across the continent.

It is doing so in conjunction with its sister business federations in Germany, Italy, Spain, France, Sweden, Denmark, Finland and Latvia.

John Cridland, CBI director-general, said: “Europe’s business community has come together and is united in making a loud and clear clarion call to political leaders – this deal is vital for future growth and the prosperity for citizens across the EU. And could create thousands of new opportunities for our young people.

“A Transatlantic Trade and Investment Partnership could be worth up to 120 billion euros to the EU every year.

“As European politicians gather to drive through Commission President Juncker’s 315bn euros investment package, they cannot ignore the significant contribution to jobs and growth that TTIP could also deliver.

“It would create an integrated market of over 800m people, bringing more choices for consumers at cheaper prices. And with the UK already trading more and investing more with the US than any other country, there are real advantages to drive home particularly for smaller firms.

“TTIP would be the biggest free trade deal ever negotiated. Signing on the dotted line would help our ambitious exporters to access the US market and offer a direct boost to GDP and jobs. It would show that the new Commission means business and gets the need for EU reform.

“The UK Government and other national leaders must keep the pressure on to ensure any final agreement is ambitious.”

The United States is Yorkshire’s largest trading partner.