Brussels, 30/11/2006 (Agence Europe) - Stressing that trans-Atlantic economic relations continue to generate commercial sales of over 3 trillion per year and employ up to 14 million workers on both sides of the Atlantic, the latest figures from the Center for Transatlantic Relations (CfTR) show that they have risen to unprecedented levels in terms of trace and bilateral investment. “Despite the political rhetoric on the economic rise of Asia, transatlantic investment flows remain the world's strongest,” says the American Chamber of Commerce in Europe, AmCham EU. It also highlights that, during the first half of this decade, Europe accounted for 57% of total US foreign direct investment (FDI) and accounted for over 75% of total US FDI inflows over the same period. CfTR figures show too that, in terms of profits, Europe remains the biggest market for American companies. In 2005, US foreign affiliate income from Europe surged to a record $106 billion, a figure equivalent to just over 46% of total US foreign affiliate income. “… the US is the top overseas market for European multinationals,” says AmCham, whose Chairman Claudio Murri noted that, according to the OECD “ a truly barrier-free transatlantic marketplace would boost US per capita income by up to 2.5% and European per capita income up to 3%”. “The devil is in the regulatory detail,” concluded Mr Murri, before calling on the governments of Member States to take concerted action to break down regulatory barriers in every sector.
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