The ninth round of talks on a planned major free trade deal between the U.S. and EU countries concluded Friday in New York.

The Transatlantic Trade and Investment Partnership, also known as TTIP, has the potential to integrate two of the world’s largest economies by cutting tariffs and removing regulatory barriers to trade between the U.S. and the European Union.

Delegations from both sides discussed "all three pillars of the negotiations: market access, regulatory cooperation and rules," EU chief negotiator Ignacio Garcia Bercero told reporters at the conclusion of the talks that began Monday.

"A significant step forward has been taken this week on energy and raw materials. Our teams have for the first time engaged extensively on all the elements that could be the subject of specific energy and raw materials provisions under this agreement," Bercero said.

Meanwhile, the U.S. said it would not agree to a EU plan to permit member states to reject imports of genetically engineered foods.

"We're still studying the proposal implications, but we hope that the European Union will move forward in a way that respects our decades-old rules on trade," said Dan Mullaney, Assistant U.S. Trade Representative for Europe and the Middle East.

TTIP negotiations began in June 2013. The next round of talks will be held in Brussels.

Source: Turkish Weekly

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