Merkel touts continuing talks on TTIP as long as possible

German Chancellor Angela Merkel called on Thursday for continuing the negotiations on the Transatlantic Trade and Investment Partnership (TTIP) as long as possible.

Germany has always benefited from free trade and open markets, especially as an export world champion, the Chancellor said at the entrepreneurs day of the Federation of German Wholesale, Foreign Trade and Services (BGA).

The current negotiations on free trade agreements with Canada (CETA) and the United States (TTIP) were far more than just the abolition of tariffs, Merkel said. Rather, the aim of these agreements is also to set standards such as in social and environmental issues.

These aspects would have played no role in free trade agreements just a few years ago, but now there is an historic opportunity, she said.

"We could write globalization history," Merkel said, but admitted the discussion had become more difficult.

Meanwhile, the Chancellor said there would be no exceptions for Britain in the future, saying that full access to the EU's internal market was inextricably linked to the acceptance of the four fundamental freedoms of the EU: the free movement of capital, goods, services, and workers.

Merkel sent a message to entrepreneurs that there would be no preliminary negotiations with the British government.

Irrespective of the Brexit referendum outcome and the weakening world economy, Merkel said she still considered the German economy to be in good shape. "The growth path is solid." she said.

Private consumption remains the driving force behind this development, according to Merkel.

"Due to the policy of the central banks, we also feel that the global economy is not balanced, as we wish it were," declared Merkel. "Monetary policy will certainly not solve the structural problems of the global economy alone." Endit