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EU leaders seek to finalize FTA with US by end 2015

by ChemOrbis Editorial Team -
  • 19/12/2014 (14:52)
According to media sources, during a summit in Brussels on Thursday European Union leaders voiced hopes that a planned free trade deal between the EU and the US would be finalized by the end of 2015. Talks on the Transatlantic Trade and Investment Pact (TTIP) were officially started in June 2013 and the parties have held seven rounds of talks thus far and the next round will be held in February.

Under what would be the world’s biggest trade deal, the US and the EU will be mutually exempted from customs duties and leaders hope that this will open up new markets for exporters and businesses.

However, there are some concerns in several countries that local industries or welfare systems could be negatively affected by the new deal, which has met opposition from some sectors of opinion within the EU.
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