The EU will benefit more from rapprochement with the Eurasian Union than from the Transatlantic Trade and Investment Partnership with the United States, Germany's Deutsche Wirtschafts Nachrichte says. Russia's ambassador to the EU Vladimir Chizhov had stated that the EU should consider rapprochement with the Eurasian Economic Union, instead of the negotiating the establishment of Transatlantic Trade and Investment Partnership with the US. Deutsche Wirtschafts Nachrichten called his proposal "interesting".
The publucation emphasizes that exports to the East play a very important role for Europe. The EU is afflicted by anti-Russian sanctions and Russian response measures much more than the United States. For the EU the Russian Federation is not just an "attractive market" - exports to Russia catalyze Europe’s economic growth, the newspaper says. A free trade agreement with the EU could also lead to the creation of more jobs in Western Europe due to strengthening of local concerns. In this case, Deutsche Wirtschafts Nachrichten refers to independent research, according to which the Transatlantic Trade and Investment Partnership with the US could cause the loss of 600 thousand jobs in Europe. Moreover, the agreement may also make the low social standards that exist in the US “migrate” to Europe, the publication says, RIA Novosti reports.
