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EU top trade official pushes EU-U.S. trade pact despite election faze

Xinhua, March 11, 2016 Adjust font size:

Altough presidential campaign debates have stirred up anti-trade sentiments among the U.S. public, European commissioner for trade on Thursday expressed confidence that the EU-U.S. free trade talks could be concluded by the end of this year.

"I remain confident that we can come to an agreement by the end of the year, if we continue the hard work and if we get the substance right," Cecilia Malmstrom said at the Washington-based Peterson Institute for International Economics.

Malmstrom said the two sides had made significant progress on regulatory issues, particularly in the sectors of autos and pharmaceuticals, during the 12th round of negotiations on the Transatlantic Trade and Investment Partnership (TTIP) in Brussels in late February.

Government procurement is the next major issue on the agenda, Malmstrom said, adding that the two sides are expected to enter serious discussions on the matter this summer.

The European Union's top trade official said she will meet with U.S. Trade Representative Michael Froman on Friday to evaluate the results of the latest round of negotiations.

Malmstrom told reporters on Wednesday that the two sides need to "enter the end-game" by the summer if they want to complete the TTIP talks this year, and there will be two more rounds of negotiations in April and July.

Malmstrom's visit to Washington came at a time when major presidential contenders including Republican frontrunner Donald Trump and Democrat Bernie Sanders voiced skepticism toward trade pacts, including the TTIP and the Trans-Pacific Partnership (TPP) free-trade agreement.

Both candidates and sitting members of the U.S. Congress urged U.S. President Obama to refrain from furthering the trade pacts before he leaves office.

The TPP, signed last month by a dozen countries including the United States, still faces major hurdles in the U.S. Congress as many delegates say the deal will cost jobs in their constituencies.

Thus, the TTIP talks, started in July 2013, are unlikely to make real headway under the Obama administration which ends in January 2017 Endi