Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-23-Speech-2-588-827"

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"en.20121023.45.2-588-827"2
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"The European Union and the United States have always been important trade partners, while the United States aided the development of European countries in the years following the Second World War. Together, the US and EU economies currently account for approximately half of global economic output and their combined trade flows for nearly one-third of global turnover. Consequently, Europe and the United States enjoy the largest economic relationship in the world. Unfortunately, these relations do not yet extend to harmonised regulatory standards, which presents a significant barrier that is particularly difficult for small and medium-sized enterprises – on which our growth and employment must be based – to surmount. Moreover, in view of the ongoing financial crisis, we must strengthen our relationship, as it is the only way out of the crisis. As stressed by the World Trade Organisation, the open and multilateral trading system in use among WTO member countries is the best means of stimulating growth and improving the welfare of people around the world and we must hold onto that if we wish to defeat the crisis. Another important issue is that of agricultural trade, in particular as regards the recently announced US Farm Bill. The rules on subsidies in the United States differ from those set out in the European common agricultural policy, but are just as high. It is also worthwhile focusing on geographical indications of origin in the context of bilateral trade in agricultural products, which could increase access to the agricultural markets of the EU and United States."@en1

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