(Benjamin Fox – EU Observer)
Failure to agree an ambitious trade deal with the U.S. would cost the EU influence in the global economy, Germany’s economy minister said on Monday (23 February).
Speaking at a business conference in Berlin alongside EU trade commissioner Cecilia Malmstrom, Sigmar Gabriel said it was a matter of “regret” that in Germany “so much is said about ‘chlorine chickens’ and too little about the geopolitical significance” of the proposed trans-atlantic trade and investment partnership (TTIP).
Following the collapse of the Doha round of talks at the World Trade Organisation aimed at reaching a global accord on trade, the EU has opened talks on a series of bilateral trade agreements, including with South Korea, Canada, Japan and China. For its part, the U.S. is close to finalising an agreement, known as the Trans-Pacific Partnership (TPP), with Japan. Click here to read more.