Together the US and EU account for 43% of all world exports of services, with over a third of EU exports to the US being in the services industries (€125.2 billion). Stronger integration and harmonisation in this field would help expand this sector further.
The lack of mutual recognition of professional qualifications makes it incredibly difficult for services to operate in the US. For example the Royal Institute of British Architects are not recognised by US authorities. This is further exacerbated by the lack of a single, integrated market for services in the US, which means that EU services providers such as engineers, lawyers, accountants, and insurers require fifty different licenses and authorisations in order to operate in the US. TTIP offers relationship an opportunity for US and EU authorities to work together to increase mutual recognition of these professional qualifications.