The concept of liberalization of economic relations between the EU and US is not new. Never before 2013 negotiations of such an agreement were performed. Until May 2014 five negotiation rounds were conducted. The leading negotiators state that the date of bringing the negotiations to the closing stage, which is the end of current year, can be kept. The TTIP Agreement is supposed to regulate trade liberalization and capital flows between the two markets of the EU and US. The agreement is more focused on elimination of nontariff barriers than custom barriers, which are relatively low already. According to the WTO the customs barriers between the EU and US measured by weighted tariff s are below 3% in their average level. Relatively higher restrictiveness in accessing the market is observed in case of the American market than in the EU one, protection of NTB is estimated at 36–38% respectively. Elimination of barriers in mutual relations will be conducive in increasing competitiveness of produced goods and services manufactured on both markets, it will strengthen technical potentials, improve climate for innovations of both partners. Moreover, TTIP is considered as a solution which will have positive impact on rates of economic growth, GDP, trade and capital transfers. TTIP Agreement is considered as a solution which will be conducive for S&M companies to join the main stream of business on a bigger scale in comparison with the current conditions. Those companies dominate in creation of the GDP as well as employment on both sides of the Pacific. The role of the TTIP is not limited to stimulation of growth or employment on the two markets. As it is also considered that TTIP as an open solution to Access of third states, will have strong impact on Word economy, with special impulses created for those markets which are linked by preferential agreements of access with the EU and US. It is assumed that conclusion of the TTIP agreement will mobilize to return to negotiation table at the suspended Doha Round of the WTO. In sum there believes that the TTIP will have impact on the dynamics of the world economy which slowed down after the crisis of 2008+. Key words: TTIP, liberalization of trade, liberalization of capital transfers, non-tariff barriers, tariff barriers, free trade agreement, harmonization of law, transatlantic market