(MENAFN) The chairman of EU trade ministers said Europe's free trade agreement with the US may collapse if European leaders pressured to remove investment protection from any deal, Gulf Daily News reported.
The US and the European Union are trying to conclude a free trade agreement, which would bring economic earnings of about USD100 billion a year to each side, the chairman said in a statement.
However, progress of the talks has slowed down partly because of a hard resistance from environmental groups and Germany's to the trade pact's Investor-State Dispute Settlement Clause (ISDS).
"If we try to change the mandate, it would be the same decision as to abandon the negotiations. It would be more than a missed opportunity," Italy's deputy industry minister said in a statement.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.