The Agreement on Transatlantic Trade and Investment Partnership (TTIP) could bring a benefit of €120 billion to the European economy and €90 billion to the US economy, Deputy Minister for Development and Competitiveness Notis Mitarakis said at the Informal Council on Foreign Affairs, held on February 27 - 28 at Zappeion Megaron.

Chairing the council, Mitarakis said that the promotion of the agreement is a top priority of the Greek presidency, which he described as a key element to growth, creating new jobs and boosting confidence.

Business representatives from both the EU and the US attended the meeting in order to present their views regarding the agreement. EU Commissioner for Trade Karel De Gucht said the event organized by the Greek presidency is extremely interesting, adding that the actual results will be shown when businesses find customers and suppliers on the other side of the Atlantic. He said that one of the difficulties of the negotiations is the elimination of tariffs on agricultural products and stressed that there must be progress in the field of public procurement.

See also: Press conference by Deputy Minister of Development and Competitiveness Notis Mitarakis and Karel De Gucht, Member of the EC in charge of Trade [video, 28.02]