Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Ukraine politician thrown on rubbish heap

Read more

DEBATE

Holland on his own? - Socialist backbenchers abstain on confidence vote (part 2)

Read more

DEBATE

Holland on his own? - Socialist backbenchers abstain on confidence vote

Read more

THE INTERVIEW

'Iraq wants role for Iran in anti-IS coalition', says foreign minister

Read more

ENCORE!

Margaret Atwood: A Prophetic Writer in Paris

Read more

FOCUS

Italy: The search for missing migrants

Read more

WEB NEWS

News media urged not to show Islamic State group videos

Read more

IN THE PAPERS

Is Valls crying wolf?

Read more

IN THE PAPERS

Prospect of separation from Scotland stirs sadness in England and Wales

Read more

Europe

EU and US to launch free-trade alliance talks

© AFP

Video by FRANCE 24

Text by News Wires

Latest update : 2013-02-13

The European Union and the United States are set to begin negotiations on a free-trade alliance by the end of June, European Commission President Jose Manuel Barroso said on Wednesday, in what would be one of the most ambitious deals ever attempted.

The United States and the European Union agreed on Wednesday to push for the launch by the end of June of talks to create a free trade alliance that could be a benchmark for global partners to follow.

A free trade deal would be the most ambitious ever attempted, encompassing half the world’s economic output and a third of global trade flows.

“These negotiations will set a standard, not only for our future bilateral trade and investment, including regulatory issues, but also for the development of global trade rules,” European Commission President Jose Manuel Barroso told a news conference.

Speaking after the release of a joint U.S./EU report recommending the start of talks, Barroso said the two were expected to launch negotiations in the first half of the year.

The report sees the EU’s economy gaining around 0.5 percent and the U.S. economy around 0.4 percent by 2027, with 86 billion euros ($115.80 billion) of added annual income for the former and 65 billion euros for the latter.

The report’s release comes a day after U.S. President Barack Obama threw his weight behind a potential deal in his state of the union address.

(REUTERS)

Date created : 2013-02-13

  • EUROPEAN UNION

    Agriculture subsidies top new EU austerity budget

    Read more

  • EUROPEAN UNION

    EU budget deal faces hostile European Parliament

    Read more

  • EUROPEAN UNION

    EU leaders face off over budget cuts at crucial talks

    Read more

COMMENT(S)