EU-US trade negotiations and biotech
EuropaBio's and BIO's joint contribution to a public consultation.
EuropaBio and the Biotechnology Industry Organization (BIO) in the US jointly submitted a contribution to a public consultation on the regulatory challenges for the upcoming negotiations towards a possible free trade agreement between the EU and the USA:
The paper highlights disruptions of the trade flow on agricultural commodities whose cost to the economy could total € 9.6 billion, according to a recent report published by the EU Commission.
Trade in agriculture has long been a delicate point in bilateral transatlantic relations, and agricultural biotech is a high priority for the US side. The US is reluctant to accept irrational barriers to trade which are in contradiction even with the EU’s own scientific advice. This is a concern that goes beyond the strict biotech aspect: if barriers to trade on a product category are motivated by irrational considerations, these also threaten to make the WTO system less workable, which could have major impacts on international trade.