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The EU released the playbook for its talks with Washington on a giant EU-US trade deal in October. It stated that it wants transparency about a pact that has been criticised for favouring big business.
European and US negotiators have been in talks for more than a year to create the world's biggest free-trade and investment agreement, the proposed Transatlantic Trade and Investment Partnership (TTIP).
All organisations that trade internationally - or have considered trading internationally - now need to re-calibrate their Strategy Execution scorecards to the change in the forces that drive achievement of their goals.
The ambitious pact has, however, raised a slew of concerns about issues - including whether it will override local laws –plus strong accusations that negotiations are taking place behind closed doors in order to protect the interests of corporate businesses.
European Trade Commissioner Karel de Gucht said in a statement: "I am delighted that EU governments have chosen today to make the TTIP negotiating mandate public - something I've been encouraging them to do for a long time…[this] further underlines our commitment to transparency as we pursue the negotiations."
The 18-page document had previously been marked “classified” – however, it had already widely been leaked - with some of its most controversial aspects in the public domain. TTIP's many critics had been calling for openness since the talks began in June 2013. Last week was the seventh round of negotiations to be completed.
The potential agreement is seen by Brussels and Washington as a means to bolster an already strong relationship - while boosting economic growth and creating jobs. But it has drawn criticism from several sources.
One of the most contentious clauses is the so-called “investor-state dispute settlement” ( ISDS), which allows firms to sue national governments if they feel that local laws - such as health and safety regulations -violate the trade deal and threaten their investments. Activists and critics - including the German government - fear that the mechanism could allow multinational companies to bypass national legislation and undermine national sovereignty.
Europe's incoming trade commissioner Cecilia Malmstroem has opened the door to scrapping the controversial provision once she takes over from De Gucht in November 2014.
This will no doubt bring huge impact on Small and Medium Enterprises as it merges.
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| PCM303430E bearing | 30 | 34 | 30 |
| PCM303430B bearing | 30 | 34 | 30 |