The implications of such a partnership, and the results of its economic impact on the region, will be explored at a seminar on 5 November.
The event is the latest in a series of "Open for Business" workshops being held in the UK to raise awareness and encourage debate on the subject.
The deal is one of the most prominent topics on the political trade and investment agenda and completed the 11th round of negotiations in Miami last week.
Helen Melville, BABC’s Birmingham-based manager, said that the event was particularly relevant to businesses involved with the UK automotive sector as well as specialists in policy, public and European affairs, regulatory affairs and IP, commercial directors and procurement managers. However, it would also appeal to representatives from local and national chambers and trade associations as well as political representatives.
Melville said: "Independent studies already suggest that TTIP would create jobs and generate growth across the EU – and that tariff reduction and greater regulatory alignment will help European automakers to win the lion’s share of TTIP gains. Whatever the size of a company – big or small – this proposed agreement will have a noticeable impact.
"Aided by a panel of senior experts, we will specifically be focusing on TTIP’s impact on the automotive sector and the West Midlands as the UK’s cluster for the industry. However, there will be plenty of opportunities for delegates to share their own experience in regards to transatlantic trade and investment and to ask questions on the proposed trade deal."
To date, the UK produces over 1.5 million vehicles and 2.5 million engines every year. One of the EU’s five top carmakers, it exports around 80 percent of its production, while around 2,350 UK companies (employing in the region of 82,000 people) regard themselves as automotive suppliers.
Currently, the US accounts for 18% of all EU vehicle exports, while more than one in eight cars imported to the EU – the largest economy in the world - comes from America. However, it is predicted that overcoming trade barriers could see a rise in such a trade of anything from 70% to 350% between 2017 and 2027.
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