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EE.UU. and the EU lay the foundations for the largest area of free trade in the world

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The spy scandal not ruined the "good climate" of the first round of negotiations for a free trade agreement between the U.S. and the European Union, which ended in Washington on Friday.   The White House Conference Center hosted this week about a dozen working groups established to develop priorities for the future Transatlantic Trade and Investment Partnership (TTIP, by its acronym in English), an agreement whose magnitude is unprecedented.   "It has been a very positive and productive conversations, both sides have remained committed to a high level of ambition," said Ignacio Garcia Bercero, head of the European team in the closing press conference of the first round. Some of the areas addressed in these days were the sanitary and phytosanitary regulations, access to markets and industrial goods, public procurement of goods and services, automotive, financial services, e-commerce and agricultural products. Representatives of the American film industry accepted the demand of the European delegation of excluding audiovisual industry according to U.S. dominance in that area, according to EU sources quoted by EFE. It is expected that the next meeting will take place in Brussels in October. The agreement, if carried out, will construct the most comprehensive free trade area, which has been described as an economic NATO, would mean 50% of global economic activity. According to a study by the U.S. Chamber of Commerce, its eventual adoption would add 120,000 million to the 650,000 million annually that currently generates bilateral trade. It is believed that the treaty may counter the growing economic power of China.   [caption id="" align="alignnone" width="630"]Acuerdo Corbis[/caption] Fuente: Actualidad.rt.com
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