TTIP Talks Remain Important for Germany Regardless of US Elections Outcome

German Chancellor Anegla Merkel stated that the US-EU Transatlantic Trade and Investment Partnership (TTIP) remains a necessary condition for cooperation between the United States and Germany.

BERLIN (Sputnik) — Membership of the proposed US-EU Transatlantic Trade and Investment Partnership (TTIP) remains important for Germany regardless of the outcome of Tuesday's US presidential elections, German Chancellor Anegla Merkel said Tuesday.

The 2016 US presidential elections kicked off earlier in the day, with voters choosing between Democratic nominee Hillary Clinton, her Republican rival Donald Trump and several other contenders.

"The transatlantic partnership will, of course, in any case remains a necessary condition for us, including for cooperation with NATO," Merkel told reporters when answering a question on the ongoing election.

Tuesday is an important day for democracy, she stressed, noting that Germany will anxiously await the results of the elections in the United States.

The TTIP free trade agreement, which has been negotiated since 2013, involves the creation of a free trade zone between the European Union and the United States.

The last round of TTIP negotiations was held in mid-July. The sides discussed mainly market access, regulatory cooperation, and trade rules. Following the round, negotiators said that the European Union continues to disagree with the United States on a number of issues regarding tariffs, services and procurement. US negotiators said that the sides agreed to eliminate duties on 97 percent of approximately 8,000 tariff lines currently in place.

The TTIP agreement has drawn severe criticism for the lack of transparency in the negotiations as well as for the tremendous power it would potentially give to international corporations.