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Although the G8 opening ceremony has just taken place in Northern Ireland, the delegates have already made several momentous decisions. Probably, the most important of them was the resolution on the Transatlantic Trade Investment Partnership. The European Union and the United States have reached some agreements, so the development of the project, which is supposed to be launched in early 2016, will start in the nearest future."I am delighted we have a mandate to negotiate an agreement on trade and investment with the United States. It shows that where there is a will there is a way. These negotiations can be a game changer,” President of the European Commission Jose Manuel Barroso said. The governments are planning to cut customs duties and to set the same standards of quality and protection of goods. It is expected that the single U.S. and EU market will have the third of the world's commodity turnover and the half of the world’s GDP. “We’re talking about what could be the biggest bilateral trade deal in history, a deal that would have a greater impact than all the other trade deals on the table put together,” David Cameron added in his turn. The British prime minister also noted that this deal will provide the European Union with £100 billion, the U.S.A. with £80 billion, and the rest of the world with £85 billion. The free-trade pact will entail commodity prices reduction and new workplaces creation. Besides, the free-trade zone will fundamentally change the current economic situation in the world.