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State Board Report

September 2014

Members of the U.S. Trade Representative’s office will resume discussions of the Transatlantic Trade and Investment Partnership (T-TIP) in September. T-TIP is a comprehensive trade and investment agreement being negotiated between the United States and the European Union. According to the USTR: “T-TIP will be a cutting edge agreement aimed at providing greater compatibility and transparency in trade and investment regulation, while maintaining high levels of health, safety and environmental protection.” Negotiations on T-TIP were launched by President Barak Obama and European Council President Herman Van Rompuy and European Commission President José Manuel Barroso in June 2013.

The T-TIP aims for the trade in services are:

  • “We seek to obtain improved market access in the EU on a comrephensive basis, and address the operation of any designated monopolies and state-owned enterprises, as appropriate; and
  • “We seek to reinforce transparency, impartiality, and due process with regard to authorizations to supply services, obtain additional disciplines in certain services sectors, and improve regulatory cooperation where appropriate.” NASBA/AICPA International Qualifications Appraisal Board Chair

Telford A. Lodden (IA) stated during IQAB’s August conference call that the USTR’s progress in these negotiations is being monitored for their impact on the accounting profession. IQAB has been attempting to develop mutual recognition agreements with several EU member countries and T-TIP may help the states get to the desired MRAs.

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