TTIP Aims to Shrink Influence of EU's Foreign Policy – French Lawmaker

MOSCOW (Sputnik), Yulia Shamporova – On July 13-17, the 10th round of negotiations for the hotly-debated TTIP treaty took place in Brussels. According to the European Commission Report, technical progress was made in the regulatory pillar but there remains significant work ahead. The next round of talks will take place in the third quarter of 2015 in the United States.

"We can see the building of a free trade zone with the the Transatlantic Trade and Investment Partnership… is made to diminish the influence of the European Countries," Schaffhauser said.

The lawmaker added that Washington was trying to reach "domination" by buying shares of key French companies like Alstom and Alcatel in France.

The TTIP is a controversial US-advocated pact that seeks to create the world's largest legislated free trade zone bringing together nearly two-thirds of global economic output.

TTIP negotiations have been shrouded in secrecy, provoking accusations that it serves the interests of multinational corporations at the expense of sovereign nations and local consumers and is harmful for small and medium European businesses

TTIP opponents, who dub the pact an "economic NATO," have gathered over 2.3 million signatures across 14 EU member states.