Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  February 13, 2013 10:17:44

Obama is negotiating with the EU on a new agreement on reciprocal liberalization of trade


American prazident Barack Obama expressed a desire or intention to negotiate with the EU's new trade agreement which should further enhance mutual business cooperation between the two landscapes.

Free and fair trade between the U.S. and the EU should, among other things, support domestic employment. New business conditions should also help meet Obama's ambitious goal of doubling the size of the U.S. foreign trade by the end of 2014, a full 100%.

Obama also said his administration is currently finalizing the form of trade agreements with 10 major countries Pacific region and generally try to strengthen the position of the U.S. as a manufacturing center.

Existing trade agreements with Europe is negotiating for years. Obama did not specify when exactly should begin negotiations on the new conditions. Bilateral trade and investment with the EU in 2011 were estimated at about 4.5 trillion USD.
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