European Union member states are hoping for a “fresh start” in November for the Transatlantic Trade and Investment Partnership (TTIP) after a new European Commission takes office and the U.S. midterm elections are complete, according to Bloomberg News.
Meeting in Rome on October 15, EU trade ministers reiterated their political support for the completion of TTIP despite growing public opposition in several EU member states. The meeting came a day after a stakeholder event opened by Italian Prime Minister Matteo Renzi, who expressed hope that the TTIP negotiations would conclude by the end of 2015. During the stakeholder event, which was attended by U.S. Trade Representative Michael Froman and the trade ministers’ meeting October 15, Italy pushed for an interim agreement on TTIP by the end of 2014.
Speaking at a press conference October 14, Italian Deputy Economic Minister Carlo Calenda said the TTIP talks are “paralyzed,” and blamed the gridlock on the uncertainties surrounding the new European Commission, which is expected to begin office as soon as November 1 and also on the U.S. midterm elections that take place on November 4, according to the Italian news agency ANSA.
EU and U.S. negotiators concluded the seventh round of TTIP negotiations in Washington on October 3.
