TTIP could benefit German carmakers to the tune of $ - leatherbiz: Lea Leatherbiz

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TTIP could benefit German carmakers to the tune of $1.1 billion, says BMW

28/01/2015
The under-debate Transatlantic Trade and Investment Partnership (TTIP) could save German car companies $1.1 billion a year in tariffs, according to BMW’s CEO.

Norbert Reithofer joined Daimler and Audi bosses in a meeting with politicians to request that they consider this when debating the trade deal with the US.

Carmakers waste resources duplicating efforts for development, certification and crash testing, Reuters quoted Daimler’s Dieter Zetsche as suggesting.

"Therefore it makes sense to mutually recognize each other's rules and move forward. TTIP is a unique opportunity to better integrate markets on both sides of the Atlantic," he added.

The campaign to open up markets has met with scepticism from Germany's labour representatives who said they would only back TTIP if workers' rights were protected

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