While most member states were not overly optimistic about the state of the TTIP talks, negotiations on CETA are reaching their final stages.

The agreement will be signed in the summer, after which the ratification process can begin, he said. Mikola called CETA a very important agreement “which we will all benefit from”.

The TTIP pact, however, still needs a lot of work and it is unlikely to be signed in the near future, he said.

The debate about TTIP centred on the proposed investor-state dispute settlement mechanism and the overall nature of the pact.

Hungary does not support the dispute settlement mechanism in its current state, he said, though the US is committed to it.

Hungary, like several other member states, wants TTIP to be a “mixed” agreement, requiring ratification by national parliaments.

If the deal is not good enough, it can be vetoed “in the last minute”, he said.

Source: www.hungarymatters.hu
Republished with permission of Hungary Matters, MTI’s daily newsletter.