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Transatlantic Trade and Investment Partnership (TTIP)


A trade and investment deal under negotiation between the European Union and the United States. The deal aims at helping European firms to obtain better access to markets outside Europe, getting EU and US regulators to work together on rules and standards for exports, and, eventually, to put in place a new set of rules that will expedite imports, exports, and investment, based on the principles of sustainable development.

Reference: Oxford Press Dictonary of Economics, 5th edt.