Brussels, 04/03/2013 (Agence Europe) - Trade Commissioner Karel De Gucht maintains that a free-trade agreement will boost growth and employment on both sides of the Atlantic.
A free-trade agreement between the EU and the United States would constitute “the least expensive imaginable recovery plan to stem the crisis and boost the European and American economies”, De Gucht said in a speech to the University of Harvard, adding that it would create hundreds of thousands of jobs in Europe. “The primary function of an agreement now would be to provide an appropriate response to the crisis”, he stated. He acknowledged, however, that the discussions could come up against strong resistance, anticipated in agriculture and public procurement in particular. “The powerful interest groups of the protected sectors will always try to put spokes in the wheels. The scale of the agreement will give rise to much scepticism. And, let's face it, the words 'Europe' and 'America' are not always greeted with a round of applause by each of our populations”, he added.
The hoped-for agreement will cover market access, regulations and non-tariff barriers, and the rules, principles and new modes of cooperation to face the challenges of global trade. After the green light given in late February by US President Barack Obama, the Council has still to give its formal blessing to the launch of free-trade negotiations. In mid-March, the Commission will present the Council with its negotiation directives, with a view to obtaining a mandate under the Irish Presidency of the EU Council of Ministers before the end of June. Commissioner De Gucht then hopes to conclude an agreement within 24 months. (EH/transl.fl)