Trade deal could add 200 million US customers, says APICCAPS
The head of the Portuguese Association of Manufacturers of Footwear, Components and Leathergoods (APICCAPS) has welcomed the idea of the Transatlantic Trade and Investment Partnership (TTIP), saying it could add 200 million potential customers from the US.
At a hearing with the Portuguese National Assembly, João Maia said the sector currently exports 3% of production to the US, but this could reach 10% if the TTIP is passed. The talks are scheduled to be completed by the end of this year.
Mr Maia said: "The agreement that is being negotiated is very comprehensive and covers a number of points but, for us, the most significant are the fees”, which can add about 10% as duties, and could be removed completely under the deal.
He stressed that the negotiations must be completed by the deadline, for fear of losing momentum or becoming deadlocked when Barack Obama steps down as US president in 2016. “This has to be negotiated within the timeframe,” he said
