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EU, U.S. aim to agree free-trade deal

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1EU, U.S. aim to agree free-trade deal Empty EU, U.S. aim to agree free-trade deal Thu Feb 14, 2013 12:10 pm

wiki


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

The U.S. and European Union will begin talks later this year on a multi-trillion dollar free-trade pact to boost economic growth.

President Barack Obama and EU leaders are hoping agreement to reduce trade barriers will support millions of jobs on both sides of the Atlantic.

Speaking at a press conference in Brussels, Trade Commissioner Karel De Gucht said the EU and the U.S. would strive to open negotiations by the end of June.

"This undertaking won't be easy. Ideally, we'd like to complete this work in about two years from now," De Gucht said.
If finalized, the deal -- dubbed the Transatlantic Trade and Investment Partnership -- would be the biggest bilateral trade agreement ever negotiated.

As two of the world's most important trade partners, business between the U.S. and the EU already exceeds $2 billion a day and $5 trillion annually. This accounts for one third of global trade flows, according to the EU and the U.S. chamber of commerce.


http://edition.cnn.com/2013/02/13/business/eu-us-trade-deal-economy/index.html?hpt=ibu_c1

klpfernando


Manager - Equity Analytics
Manager - Equity Analytics

It's high time to Asian leaders to follow the same path.

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