TTIP Deal Fails to Fully Address European Interests – French FM Fabius

In its present form, the proposed Transatlantic Trade and Investment Partnership (TTIP), a controversial EU-US free trade agreement, does not fully take into account the interests of Europeans, French Foreign Minister Laurent Fabius said Thursday.

PARIS (Sputnik) — On French RMC radio, Laurent Fabius said:

“This [the extent to which the TTIP addresses the interests of Europeans] is not enough… For example, the European markets are now 80-90 percent open to the Americans and the American [markets] are only 20 percent open.”

The minister added that the idea of developing trade is good, but Europe would only approve the deal if it was beneficial for the people.

He added that Europe is unlikely to agree on the establishment of extraterritorial courts that would allow corporations to sue governments – a point on which the United States reportedly insists.

The TTIP’s stated aim is to ease the flow of goods and services across the Atlantic. In Europe, over 2.1 million people signed an online petition against the deal, citing fears that it would benefit corporations at the expense of governments and local consumers.