Baltic Export, EU – Baltic States, Investments, Latvia, Legislation, Markets and Companies, USA

The large producers will be the ones to benefit from the TTIP, said Danusevics. "Right now there are no grounds for optimism that the U.S. market will be open for small and medium-sized producers once the agreement is signed. I believe that Latvia's export to the United States could increase 1% in all."

Another question that businessmen in European countries are concerned about is the quality and prices of food products, said Danusevics. "Although representatives from the European Commission say that there is nothing to worry about, businessmen in several European countries have expressed concern about the quality and prices of food products from the United States. They say it is unclear whether EU regulations on food quality will change after the agreement is signed."

As for the prices, there are fears that U.S. producers could offer products less expensive than goods made in Europe, thus taking some market share away from local producers in various segments of goods and products, explained Danusevics.

In June, the council of the Merchants' Association would hold a meeting with relevant experts to discuss the conditions of the TTIP and what it can offer to Europe and Latvia.