19:55 GMT +328 February 2017
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    Austrian Business Lobby Clamors for 'TTIP-Like' Deal Between EU and Russia

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    A 'TTIP-like' trade deal with Russia would be crucial if the EU hopes to shift the focus of global trade away from the Pacific Rim and towards Europe, according to the head of Austria's influential business lobby.

    The countries of the European Union must form a TTIP-like trade deal with Russia, according to Georg Kapsch, the head of the Federation of Austrian Industry, an influential business lobby in Austria.

    The TTIP (Transatlantic Trade and Investment Partnership), is an exclusive deal between the United States and EU countries concerning business regulation, the reduction of tariffs and settlement of disputes between states and corporations. In addition to the TTIP, the US is negotiating a TPP (Trans-Pacific Partnership), a potentially more comprehensive agreement with countries in Asia and the Americas.

    "I am convinced of that. We need a TTIP-like deal with Russia. We need to create this bridge, otherwise we have no chance to compete with Asia," Kapsch told Austrian business daily WirtschaftsBlatt in an interview.

    Current trends in trade and economic development have shifted the focal point of trade and investment away from Europe and toward Asia, according to Kapsch.

    "Yes, we need a free trade zone with Russia, the US and Canada. That would shift the center of gravity, which has continued to move toward the east, back towards the Atlantic," Kapsch said.

    Kapsch, who himself is CEO of the international logistics company Kapsch Inc., added that a failure to make a similar deal with Russia would lead to less growth and fewer jobs in the EU.


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    trade, Trans-Pacific Partnership (TPP), Transatlantic Trade and Investment Partnership (TTIP), EU, United States, Russia
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    • avatar
      TTIP labeled by H Clinton as an "economic NATO" is to complement a revived NATO with the aim of a US/EU military economic alliance able to dictate its terms to the rest of the world.
      Does a "TTIP like with Russia" also imply a revived Warsaw Pact and so on....?
      Guess that business lobby is somewhat naive about the real geopolitical aims of TTIP and still considers it a trade deal.
      However those real aims of TTIP ought to be pretty clear by now. The current EU Commission Vice Chairman Timmermans when fishing for this job as then still Dutch Foreign Minister on May 1st 2014 in Washington:
      "Let me finish on this. We have taken each other for granted for too long, the Americans and the Europeans. We will be able to set a course for the future of this world if we stick together.
      It is very simple, if we are able to see the Transatlantic Trade and Investment Partnership (TTIP) for what it is: not a free trade agreement. TTIP is a geostrategic agreement. It is a political agreement. It should not be left up to people who know everything about the way you slaughter chickens. It should be something our political leaders should take up and decide on soon. When you have TTIP in place, it will change the nature of the game globally. Because then the United States and Europe will set the rules of the game, and the others will follow suit, including China, Japan and others. "
      Clearly Timmermans' statement landed him the job as EU vice Chairman. And TTIP is of course still sold to the public as a mere trade deal.
    • avatar
      The Goof´s in the EU probably under US cohersion will pass.Never can the EU do something alone free of pressure from bully US: So very sad. That is one of the many reasons countries are opting for extremes at the ballots. Can they understand that ? Maybe not, too complicated is it?
    • avatar
      margaridaoulmanin reply toJPH(Show commentHide comment)
      JPH, TTIP Is bad for the EU; but if Hilly Billy had anything to do with it then it is for sure more toxic.
    • avatar
      Kapsch is right. 80% of the Russian economy and population líes in its European side.

      Mercosur (Brazil, Argentina, Venezuela) also líes towards the Atlantic.

      70% of the population and economy in Canadá (Ontario-Quebec) líes towards the Atlantic.

      And the same can be said in USA, as 2/3 of its economy and population líes towards the Atlantic.

      But being Russia an Eurasian country, it will continue developing and deepening trade with the Pacífic and Central-South Asia, which is growing more.

      The agressive American policy against Russia and the American domination of Western and Central Europe, lead Russia to diversify its markets developing much more its Urals-Siberian-Far East side.

      On the mídterm, a Mercosur-EEU-EU-NAFTA trade agreement is possible.
    • avatar
      I think he means by undercutting Chinese manufacturing costs through enslavement of the European workforce and general austerity re social services, doesn't he ?
    • Jet fuel can't melt steel beams
      A real partnership will be with Russia (which was a partner Historically and geographically) and also culturally closer to us than the u.s..
    • avatar
      For all I heard and seen, said by those that actually saw the documents, and said ONLY what was allowed, they will FINISH Russia and will split it in pieces. Russia signed the DUMBEST deals in any HISTORY OF THE WORLD, in the 89 and 90's. No one ever been so Fool.
      what is known. Is to RESTORE WASHINGTON'S GLORY. Of course NATO will be another part.
      You can't deny any corporation to buy things in your country. What Russia going to buy? It will ALL be denied. Just like THE WILL OF THE PEOPLE. Only work IF it benefits E.U.
      Corporation can then SUE Russia over many things, but not all as many say. IF you unilaterally pass a law to protect environment and they are affected. expect a court case right out. Russia have thousands of E.U corporations. How many thousands are in E.U from Russia?
      Russia refused to participate in a program that corporations can sue. Which was the base for the YUKO'S judgement ordering Russia to pay billions.
      All they want is to own Russia.
      Russia MUST stay away from them and their mess.
      Actually move herself from E.U humanitarian courts etc. Why Russia needs that? Rather build own. And so one. The more you think the worst it will be for Russia. Best is to seat and think every clause, but Russia won't want.
      Today all laws are applied by west. A Russian corporation was fined by U.S for BILLIONS, over a bribery case. What?
      How Russia allows this? But when is a U.S or west corporation Russia fine them for 150.00 u.s?
      Russia still doesn't wake up. Time to end the fining of Russian's and Russian businesses on laws Russia didn't signed.
    • avatar
      Trade among EEU (Eursasian Economic Union), Mercosur and the other BRICS countries which share a similar income per head and a similar level of development is more profitable for Russia than the mature markets of the EU and US.
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