Report: Czech Republic wants TTIP to replace Czech-US investment treaty

05-11-2014

The Czech Republic would like the planned EU-US trade deal, known as TTIP, to replace the current bilateral investment protection treaty between the US and the Czech Republic, the news agency ČTK reported, quoting Finance Ministry documents. Finance Minister Andrej Babiš raised the issue during Wednesday talks with the head of the EU’s Directorate General for Trade, Ignacio Garcia, the union’s chief negotiator of the trade deal. The Czech government believes the TTIP, which could be finalized by the end of the year, will increase the country’s GDP by up to 2.6 percent.