Negotiations are underway for a bilateral free trade agreement on trade and investment between the European Union and the United States. This was announced from Brussels, simultaneously with Barack Obama in Washington, by the president of the European Commission, Jose Manuel Barroso, after the positive outcome of the meeting with the president of the United States and Herman Van Rompuy.
The Commission's idea now is to present a proposal for a negotiating mandate to the Member States by the end of June. Barroso expressed his satisfaction, predicting that a bilateral agreement on trade and investment could give both partners a much-needed boost towards growth: “With this negotiation, the EU and the United States will have the opportunity not only to expand trade and investments across the Atlantic, but also of cContribute to the development of global rules that can strengthen the multilateral trading system".
The primary purpose of the agreement is to remove the duties and tariffs still in force (worth 4% of the amount traded), but also to break down non-tariff barriers. However, Barroso specified, the negotiations will have no impact on EU regulations regarding consumer policy and food safety.
