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Lithuania hopes for speedier Transatlantic Trade and Investment Partnership negotiations

Date

2015 02 27

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In the meeting with UK’s Director for International Trade & Export Control of the Department for Business, Innovation and Skills, Chris Barton, Government Chancellor Alminas Mačiulis brought up the subject of the Transatlantic Trade and Investment Partnership (TTIP) and its current relevance.

“The TTIP is an unprecedented agreement that will bring together the two largest markets in the world: the European Union and the United States of America. This will undoubtedly boost the economic growth of all the parties to the agreement, as well as foster mutual trade and exports,” said Alminas Mačiulis.

The Chancellor also pointed out that this agreement is important also for the energy, not only for the economy, and that it must cover gas and the removal of restrictions on oil exports. “US gas exports to the EU would have a huge impact on the energy situation in the region,” said Alminas Mačiulis.

The Chancellor of the Government also noted the growing public support for the TTIP in Lithuania, which now stands at 79 per cent, to compare with that of 65 per cent in the United Kingdom.

The interlocutors noted that that both the EU and the United States express commitment to make greater progress in the negotiations in 2015. Chris Barton assured that both sides are ready to find a compromise towards ambitious goals and to conclude the negotiations before the end of US President Barack Obama’s term of office.

In the meeting, the Chancellor of the Government welcomed the close bilateral cooperation between Lithuania and the United Kingdom. “Lithuania and the UK are like minded countries on many economic, international and security policy issues”, said the Government Chancellor.