MOSCOW, November 16 (Sputnik) — The leaders of several European nations and the United States reaffirmed on Sunday their intention to conduct negotiations leading to the Transatlantic Trade and Investment Partnership agreement (TTIP).
"We, the Leaders of the United States and the European Union, and the United Kingdom, Germany, France, Italy and Spain meeting in the margin of the G20 Summit reaffirm our commitment to comprehensive and ambitious negotiations, in a spirit of mutual benefit, leading to a high standard Transatlantic Trade and Investment Partnership agreement," the leaders said in a statement published by the European Commission.
The leaders said that they remained committed to promoting stronger and sustainable growth, supporting the creation of more jobs both in Europe and America and increasing their international competitiveness.
"We see it as an opportunity to promote the principles and values that we, as citizens of open economies and societies, share and cherish, including transparency and joint approaches to global trade challenges," the leaders said.
The TTIP is a trade agreement negotiated between the European Union and the United States. The agreement is aimed at removing trade barriers in a number of economic sectors in order to make the purchase and sale of goods and services between the two regions easier.
The G20 Leaders' summit in 2014 was held in Brisbane on November 15 and 16, with 4,000 delegates and 3,000 media representatives in attendance. The summit provides an opportunity for leaders to discuss global issues and use their influence to improve the situation in the world.