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EU - US Trade Relations and TransAtlantic Business Dialogue

EU - US Trade Relations and TransAtlantic Business Dialogue. Peter Rush Chief Executive Officer Kellen Company EuroConference 2006 26 April 2006, Brussels. EU – US Trade relations. Trans A tlantic economic ties account for a third of global trade and 20 % of the world’s foreign investment.

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EU - US Trade Relations and TransAtlantic Business Dialogue

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  1. EU - US Trade Relations and TransAtlantic Business Dialogue Peter Rush Chief Executive Officer Kellen Company EuroConference 2006 26 April 2006, Brussels

  2. EU – US Trade relations • TransAtlantic economic ties account for a third of global trade and 20 % of the world’s foreign investment. • US Investment in the Netherlands alone was twice what it was in Mexico • For every five products exported from the US or Europe one is headed across the Atlantic, amounting 1.8 billion of trade of goods and services every day.

  3. The Renewed TransAtlantic Agenda • TransAtlantic Business Dialogue (TABD) • Started in the mid-nineties it achieved success on some fronts and sectors • TABD was revived in the past 2 years • Key activities now include: • The TransAtlantic Legislators Dialogue (TLD) allowing better mutual understanding and insights • The Forum for Regulatory Cooperation(Forum)

  4. Role of Associations • Engaged with regulatory process early • Provide technical and practical expertise in industry and science • Develop consensus opinions for framework and scope in US and EU • Create forum for information and feedback in the process

  5. Forum: Regulatory Standards Ccooperation «Our aim is to build effective mechanisms to promote better quality regluation, minimize unnecessary regulatory divergences to facilitate transatlantic trade and investment, and increase consumer confidence in the Transatlantic market» (2005 EU-US Economic Initiative) • Implementing of Regulatory Cooperation activities between EC and US authorities according to the 2005 Roadmap • Initiation of a work program of the high-level Regulatory Cooperation Forum as described in the annex of the Summit Economic Initiative. • Promoting of Regulatory Cooperation outside the 2005 Roadmap

  6. 1. Implementing of Regulatory Cooperation... • Sectoral dialogues with individual work plans in 15 specific areas: e.g. Automobile Safety, Consumer Product Safety, Nutrition Labeling, Food Safety, Energy Efficiency,… • Dialogue between European Commission –Office of Management & Budget • EU-US Experts Exchange Program

  7. 2. Initiation of a work program … • Platform for activities related to “how do we cooperate” on, for example: • Cross cutting regulatory cooperation topics • Of general interest to regulators • That are the responsibility for multiple regulatory authorities • Future cooperative agenda • Exchanges of annual Commission and US regulatory work program • Facilitating the implementation of regulatory dialogues

  8. 3. Regulatory Cooperation outside Roadmap • Consideration should be given to expanding the spectrum of EU-US regulatory cooperation activities outside the 2005 Roadmap, and possible links with Forum activities, where appropriate.

  9. Automotive Industry • Harmonization of standardization procedures • could promote a more cost effective production • A common direction in R&D • helps to create a head start in several technological fields • can beat the threat of other raising economies • Horizontal harmonization of regulation • would lead to a costly more effective business.

  10. Energy Efficiency “The EU and the US will work together to advance security, renewables, energy efficiency and economic development” (2005 EU-US Economic Initiative) • Hydrogen • Develop cooperation on fuel cells under 2003 DOE/EC Amendment Implementing Agreement for non nuclear energy cooperation • Mobilize 3rd countries to develop and use hydrogen technology • Clean Transport • Strengthen cooperation between the U.S. Clean Cities Program and the EC CIVITAS Initiative • EC/US-DOE workshop to review current cooperation and define work program.

  11. Food Industry • Nutrition Labeling:Harmonization will help to avoid discriminatory restrictions on both sides of the Atlantic which could lead to technical trade barriers. • Food Safety:Harmonization of regulations could help to increase the competitiveness of European Industry.

  12. Framework for the future • Successful methodology for rational regulatory approaches in global economy • Template for other industry and service sectors • Creation of basis line for reference in other international regulatory harmonization discussions • Development of baseline measurements for cooperative efforts

  13. Facilitation of Process • Associations in EU and US must work together • Kellen approach to assist associations in information gathering and assimilation, representation, advocacy and coalition building • Assembly of resources to concentrate on issues and results rather than on process • Creation of value-added relations for associations and governments and technical and scientific levels

  14. Thank you

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