What TTIP Will Mean for: France

In 2015, Lilly spent a lot of time taking a closer look at the advantages the Transatlantic Trade and Investment Partnership (TTIP) could provide to different corners of the globe: from the UK and Belgium to states in the US like New York and California. We’re now ready to hit the road again in 2016, and explore what this once-in-a-generation opportunity has in store for our economies and our lives. Today’s stop: a country whose history spans Charlemagne to General de Gaulle, Notre Dame to the Eiffel tower all the through to the Champs-Élysées - France!

Economic Gain

France is one of the most prosperous countries in the world, with a GDP of more than $2.8 billion. As a major player in the global market, France has much to gain from expanding international trade. France already ranks in the top 10 nations for global exports of both merchandise and commercial services, many of which end up in the United States. Exports from France to countries outside the EU support over 2,200,000 jobs in France, with an additional 356,000 jobs linked to exports from other EU members to countries outside the EU. This means 10% of jobs in France depend on EU exports, which we could see increase with progressive trade policies.

Job Creation

When the conditions for trade improve, employment rates follow shortly thereafter. Nearly 3 million French work in manufacturing, often creating in-demand and commonly used consumer goods. These products are the backbone of France’s export economy, making up nearly 36% of the country's exports. With help from TTIP, this already vibrant portion of France’s economic picture will come further into focus, creating jobs in industrial hubs like Paris, Strasbourg, and Lille, and in centers of agricultural and wine (France’s seventh largest export) production such as Bordeaux and Reims.

Health Outcomes

France faces a considerable challenge in lowering the rate of cancer among its citizens, especially men. The average Frenchman is 20% more likely to be diagnosed with cancer than his European counterparts. TTIP can help steer France on a path to better address this growing health concern. Fostering investment in life sciences research and development and enhancing transatlantic research cooperation facilitates the development of new, innovative medicines. Increased regulatory alignment between the European Medicines Agency (EMA) and the U.S. Food and Drug Administration (FDA) means faster access to innovative medicines for patients. TTIP provides a foundation for that partnership. France would play a leading role in TTIP’s success, as the country already exports billions of euros in pharmaceuticals on a yearly basis.

France joins a long list of countries that will benefit from a stronger alignment between the EU and the U.S. With TTIP’s help, a freer flow of goods and services could yield economic stability, employment security and stronger public health. France will certainly feel the impact of this agreement, but the effects will also resonate far beyond its borders - across Europe, across the Atlantic, and across the world.