EU-US free trade talks race on, says UK minister
By PRW Staff
Posted 20 December 2013
The third round of negotiations between the EU and the US for a Transatlantic Trade and Investment Partnership began on 16 December.
Lord Livingston, the UK’s minister for trade and investment, said the speed at which the free trade negotiations were proceeding showed a real commitment from both parties.
“As far as trade negotiations go, a launch and three negotiating rounds in seven months is operating at breakneck speed, reflecting the deal’s ambitious two-year timescale and its strong political and business backing,” he said
“But let’s be clear. An EU-US deal is the biggest prize of them all. It has the potential to be the biggest free trade agreement ever, and will make exporting cheaper and easier for businesses of all sizes and regions on both sides of the Atlantic.”
Trade between the US and the EU accounts for about 30% of world trade. A successful deal could add as much as £10bn to the UK economy each year, £100bn to the EU economy and £80bn, he explained.
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