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European Commission proposes negotiation mandate for EU-U.S. trade talks
Story Date: 3/13/2013
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Source: EU NEWSBRIEF, 3/12/13
Today, the European Commission recommended to the Council to authorize the launch of negotiations on a Transatlantic Trade and Investment Partnership between the European Union and the United States.
"I am very pleased that just one month after the announcement by the EU and the U.S. to go for this 'game-changing' trade deal, the European Commission is ready with a proposed mandate for the future negotiations," said EU Trade Commissioner Karel De Gucht. "We can now roll up our sleeves up and get down to the business of preparing negotiations."
European Commission President José Manuel Barroso welcomed the "important progress on what I believe is a game changer, not only in transatlantic terms, but for the world in terms of trade."
According to a new study, a comprehensive agreement could bring significant economic gains to the EU (119 billion euros a year) and the U.S. (95 billion euros a year) once it is fully implemented.
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