EU: No TTIP agreement with US under Obama rule

The Transatlantic Trade and Investment Partnership (TTIP) between the United States and the European Union (EU) won't be finished until the end of this year, Slovak Economy Minister Peter Ziga said Friday.

"It emerged from the discussion between the ministers on the state of the talks that a conclusion of negotiations with the USA by the end of this year is unrealistic," Ziga told a press conference after informal meeting of EU trade and economy ministers in Bratislava.

"Another important element will be the upcoming presidential elections in the USA. Any agreement, including TTIP, has to be balanced and beneficial for the EU. The quality of the agreement is more important than the speedy adoption thereof," said Ziga.

"We've shifted the debate on the agreement further. It will be discussed by top officials of individual countries at the Council of the EU on October 20-21 with prime ministers taking part," said Ziga.

Meanwhile, the economy and trade ministers will discuss the issue further on Nov. 11, taking into account the results of the summit.