International Business and Technology Blog

With so much attention focused on BRIC growth, it’s easy to forget just how important the Transatlantic Alliance already is:

This huge Transatlantic Alliance already provides abundant export opportunities for European and US companies – so what would a Transatlantic trade agreement really bring and how could it benefit your company’s exports?

Transatlantic tariffs are already low: less than 3% on average. So while lifting this 3% is positive, it is hardly a game-changer. The real brakes on Transatlantic trade come from differences in recognised standards and health and safety regulations. Any US business that has spent thousands getting its products certified in the US only to be told to re-apply for a CE mark, knows the frustration.

So if you’ve been restricted by tough regulations in the past, now could be your chance. Both US and European governments have agreed to put all the cards on the table to standardise all technical regulations and certifications: even agriculture will be discussed.

There is a real chance that progress could be made although the 2014 timeline is aggressive. There is political motivation on both sides and several countries are likely to act as champions for the cause.  A Transatlantic trade agreement would boost US and European growth – a much sought after relief for today’s sluggish markets. It would also help re-balance increasingly Asia-centric US policies – something Europeans are increasingly wary of. Finally, there is an underlying motivation to impose global standardisations – if the US and Europe agree on a particular standard, any other country not agreeing will look business-unfriendly. If an agreement on recognised testing and standards can be chiselled out, the huge benefits of a genuine free trade zone between the largest global partners can start to be counted.

There is no need to wait around for 2014. Start developing your European presence online and make sure that by the time this does go through, you’re already one step ahead! There are currently 518 million internet users in Europe (more than double the number than in the US) so using the internet is an ideal tool for developing in Europe’s complex business environment. An online presence in Europe’s largest 3 markets: France, Germany and the UK, covers 220 million of Europe’s richest consumers and businesses. So why not start there? You wouldn’t start a company in the US without first setting up a website so why would you in Europe?

Improve your online presence in Europe and/or the United States by downloading our eBook: 15 tips for improving your online presence in Europe.