Bulgarian Deputy Prime Minister Ivaylo Kalfin warned on Thursday that in its current format the Transatlantic Trade and Investment Partnership (TTIP) would bring more harms than benefits to the country.

Kalfin announced this during a discussion forum on the risks posed by TTIP on Bulgarian industry, the Bulgarian National Radio (BNR) reports.

The free trade agreement is being negotiated between the European Union (EU) and the USA and aims to lift the duties and tariffs in transatlantic trade.

The negotiations on TTIP have lasted for more than two years and expectations are that these should be concluded by the end of the year.

According to Kalfin, the agreement in its current appearance should not be supported as the European Parliament has identified several shortcomings in it.

In his words, it was important for the Bulgarian government to make an assessment of the possible impact it might have on the country.

The minister pointed to the mechanism for dispute settlement and the possibility for nationalisation of companies connected with the public infrastructure as two of its most worrying components.

Kalfin stated that is was compulsory for negotiations to ensure the equal observance of labour and environmental standards.

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