WASHINGTON (Reuters) - A trade agreement between the United States and the European Union would give the transatlantic partners a much-needed economic boost at a time of rising global competition, U.S. Secretary of State Hillary Clinton said on Thursday.
"If we get this right, an agreement that opens markets and liberalizes trade would shore up our global competitiveness for the next century, creating jobs and generating hundreds of billions of dollars for our economies," Clinton said in a speech at the Brookings Institution.
Clinton's strong endorsement of the pact was the latest indication that the United States and the 27 nations of the European Union could launch talks on a comprehensive trade agreement early next year.
A high-level, US-EU working group led by U.S. Trade Representative Ron Kirk and EU Trade Commissioner Karel De Gucht has been studying the issue for the past year and is expected to formally recommend negotiations in a report to be released sometime in December or January.
The United States and the European Union already have a huge bilateral trade and investment relationship.
But Clinton argued a trade pact that strengthens those ties would increase transatlantic security "in the face of rising challenges to our economic model" and the growth of many "behind-the-border" measures that impede trade.
(Reporting By Andrew Quinn and Doug Palmer; Editing by Vicki Allen and Stacey Joyce)
Source: http://news.yahoo.com/u-eu-trade-pact-shore-competitiveness-clinton-194504830--finance.html
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