Brussels - The European Union and the United States should do everything possible to finish negotiating their landmark free trade deal within the next year, EU leaders said Thursday.
The two sides have held seven negotiating rounds on the so-called Transatlantic Trade and Investment Partnership (TTIP) since July 2013, but progress has been slower than expected.
“The EU and the US should make all efforts to conclude negotiations on an ambitious, comprehensive and mutually beneficial TTIP by the end of 2015,” EU leaders said in a joint statement issued at a summit of the bloc in Brussels.
British Prime Minister David Cameron said trade deals were needed “to open up markets for our exporters and businesses.” He held a separate meeting with business leaders and other European prime ministers to discuss the trade deal, which would “bring more growth and jobs,” he tweeted.
Critics, who have complained about a lack of transparency, worry that TTIP will water down consumer protection provisions and allow corporations to block unfavourable regulation.
The Europe-based Stop TTIP initiative announced this month that it had collected more than 1 million signatures against the agreement.
EU and US negotiators have nevertheless committed to a “fresh start” in the talks after a change of leadership in Brussels. The next round of negotiations is scheduled for the week of February 2 in the Belgian capital.
Sapa-dpa