This afternoon, Brussels
and Washington announced that the EU and the US are intending to
launch negotiations on a trade and investment agreement which could
result in the biggest bilateral trade deal ever negotiated. The
negotiations will commence once the relevant internal procedures for
approval have been completed.
The press
release provides a broad outline of the three main areas which
the parties are seeking to negotiate; market access, regulatory
issues and non-tariff barriers and addressing shared global
challenges and opportunities in the 21st century. Changes to the
regulatory frameworks in particular could potentially have a
significant impact on technology and life sciences businesses. If the
EU and US can find common ground on standards and procedures and
reach regulatory compatibility, for example in relation to
pharmaceuticals or medical devices, the need to comply with two sets
of regulatory approvals for products and the associated costs to
businesses will be reduced.
A joint statement from
United States President Barack Obama, European Council President
Herman Van Rompuy and European Commission President José Manuel
Barroso can be found here.
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It would be great if they could get the deal signed and sealed or at least achieve some of the intended goals. I'm sure that this would benificial to the economy and would give the economic situation a better outlook. In negotiations like this there is always a need for translation and interpreting. If you are in need for a translation or interpreting service commission professionals.
Posted by: Cole | 28/02/2013 at 12:55