Brussels, 28/10/2009 (Agence Europe) - At the fourth Transatlantic Economic Council (TEC) meeting in Washington, the United States, on Tuesday 27 October 2009, the EU and the US confirmed their commitment to reduce regulatory barriers to transatlantic trade, but said that a free trade zone was not on the agenda. After the meeting, Michael Froman, deputy-advisor on national security for global economic affairs to Barack Obama, who was chairing the meeting, said that 'the goal is to build on the already very deep and broad relationship we have between the US and the European Union to find further ways to integrate our economies.' The EU and the US agreed that ahead of the next TEC meeting, they will identify areas where greater regulatory cooperation is required, like labelling, energy efficiency and nanotechnology. They also confirmed plans to set up a Transatlantic Energy Council (see EUROPE 10000) and a joint working group on innovation to examine five areas of cooperation (including information and communication technology, healthcare technology and clean energy technology). As reported in EUROPE 10006), no important decisions were taken at the meeting, which was designed as a transition to the new Administration under President Barack Obama from that of his predecessor, George W. Bush. The other co-chair of the TEC, who was standing next to Michael Froman at a press conference, EU Industry Commissioner Günter Verheugen, hinted that the transatlantic agreement on trade issues had not been wholly smooth. Responding to enthusiastic comments the day before by the Swedish trade minister Ewa Björling, who had mentioned 'growing interest' from US business for a free trade agreement with the EU, Verheugen said 'It's simply not on the agenda and I do not foresee it in the near future.' Verheugen said that the EU's and the US's partners at the World Trade Organisation would take a very dim view of a bilateral free trade deal right at the end of the talks over a Doha trade round. He then said that such a free trade deal was neither needed (because EU and US customs tariffs are already very low) nor appropriate (because it would not deal with the regulatory convergence between the two sides needed if non-tariff barriers are to be reduced). (E.H. trans fl)