Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-22-Speech-1-205-000"
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"en.20121022.25.1-205-000"2
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".
Mr President, you have taken an excellent initiative in expressing your interest in strengthening EU-US relations at this important juncture.
We all agree on the importance of EU-US trade relations. Almost EUR 2 billion of goods and services are traded every day between the European Union and the United States. Investment stocks are at over EUR 2 trillion, and almost half the world’s gross domestic product and one third of world trade is generated by the two sides of the Atlantic, taken together. These numbers illustrate that the EU-US trade and investment relationship is second to none.
However, more can be done. At a time of economic hardship, enhanced trade makes an important contribution to growth and jobs. This is why we are committed to making the current flagship trade and investment undertaking a success. At the November 2011 summit meeting, US and EU leaders established the high-level working group on jobs and growth, tasking it with identifying ways to increase trade in investment to support mutually beneficial job creation, economic growth and competitiveness.
On 19 June, we adopted an interim report in which we reached the preliminary conclusion that a comprehensive agreement addressing a broad range of bilateral trade and investment issues would provide the most significant benefits from the various options considered. It is also the best option from a political point of view, and it allows for a package deal.
No political decision to launch negotiations has yet been reached. The process started at the last EU-US summit has clearly moved in that direction. We are working hard with our US colleagues with a view to drafting the requested final report before the end of the year. The final report is supposed to make a recommendation on the way forward, which we think should be the launch of comprehensive negotiations.
Parliament’s report is very timely indeed. It constitutes a balanced and constructive contribution to the work of the high-level working group. We will take into account the views and positions expressed therein to the greatest possible extent. May I thank the honourable Members again for their valuable contribution."@en1
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