Brussels, 21/06/2011 (Agence Europe) - In a speech to the US Chamber of Commerce in Washington on Tuesday 21 June, Trade Commissioner Karel De Gucht argued for stronger regulatory cooperation between the EU and the US within the framework of the Transatlantic Economic Council (TEC) and also between stakeholders. “There are compelling economic reasons to engage in this regulatory cooperation. Studies have shown that we can generate impressive savings - more than $200 billion - by reducing non-tariff measures and by aligning regulatory divergences. And even if we only tackle a number of specific areas, the gains are huge because of the sheer size of transatlantic trade. So, the formula of the TEC is to tackle regulatory issues at an early stage, before the actual regulation is in place”, he argued, calling on all stakeholders - administrations, regulators, standards bodies, law makers, business and consumers - to “get behind this objective” and ensure its success. (E.H./transl.rt)