The long-awaited Transatlantic Trade and Investment Partnership (TTIP) between the European Union (EU) and the U.S. would be a boon for the global business, the head of one Germany's biggest companies told CNBC on Wednesday.
"I think TTIP would be a terrific help for the world economy, so therefore I hope the U.S. and Europe get along on all these different aspects they still have to solve. I believe it could really drive economic growth in Europe and the U.S.," Frank Appel, the Chief Executive Officer of Deutsche Post DHL said at the World Economic Forum in Davos, Switzerland on Wednesday.
TTIP negotiations for a free trade agreement between the U.S. and the European Commission, the executive wing of the EU, have been ongoing since 2013.
The deal is controversial due in part to the potential eradication of subsidies and other support given to domestic and regional businesses. In October, hundreds of thousands of people protested in Berlin against the planned deal, saying it was anti-democratic and would lower food safety, labor and environmental standards.