Romania’s GDP could increase by 0.25% annually starting 2027, following the full implementation of the Transatlantic Trade and Investment Partnership (TTIP).

Depending on the exchange rate, the GDP could grow by up to USD 500 million every year, according to Lucian Cernat, chief economist in the European Commission’s Directorate General for Trade Policy, reports local Capital.ro.

The TTIP agreement would also have an impact on the trade balance with the US. Exports could grow by over a third, whereas bilateral imports could increase by a quarter, said Lucian Cernat.

“90% of the estimated benefits would result from efforts to reduce non-tariff barriers,” he added.

The Transatlantic Trade and Investment Partnership is a trade agreement to be negotiated between the European Union and the United States.

editor@romania-insider.com