The United States and the
European Union have signed up to a new transatlantic economic partnership at a
summit in Washington.
The pact is
designed to boost trade and investment by harmonising regulatory standards,
laying the basis for a US-EU single market.
sides agreed to set up an “economic council” to push ahead with
regulatory convergence in nearly 40 areas, including intellectual property,
financial services, business takeovers and the motor industry.
In a speech
to a Business Forum at the New York Stock Exchange on the 27th April,
Commission President Barroso outlined his expectations for economic integration
at the forthcoming EU-US summit. He said: “It is time to deepen our
economic partnership and take the whole vast and dynamic transatlantic economy
to the next level.
“the moment has come to harness the full potential of an integrated
Skies agreement was also signed and will take effect on 30 March 2008 and will allow EU carriers to fly
to anywhere in the US and vice versa.
promises to lower airfares and widen choice for passengers on both sides of the
hopes to go further and create an “Open Aviation Area” between the
two sides “in which investment can flow freely and in which European and
US airlines can provide air services without any restriction,” said a EU
The EU is
also hoping that the US will agree to withdraw its visa
requirement for travellers from a number of EU states.
The same agreement from an American perspective.
Treaties and Agreements are now being signed by the European Council and the
European Commission on a regular basis, as though
it were a state.
Non elected leaders of a non elected
Commission signing agreements for a non existent state.