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United States | Brussels, 16 April 2013

Transatlantic Economic Council “Facilitators” meet to review progress and identify 2013 work priorities

On 12 April 2013, Director-General for Trade Jean-Luc Demarty, Deputy US Trade Representative Ambassador Miriam Sapiro and US Acting Assistant Secretary of State, Kathleen Doherty met in Washington in their capacity of “Facilitators” of the Transatlantic Economic Council (TEC). The meeting was also attended by a large number of representatives of the various US agencies and Commission services involved in the work of the TEC.

Facilitators welcomed and reviewed progress on the TEC work agenda since its last meeting in November 2011, in growth markets and emerging sectors such as e-vehicles, raw materials, nanotechnology, e-health or cloud computing, among others. They also agreed concrete follow-up to specific initiatives, which they consider recommending to TEC Co-Chairs. A number of potential new TEC work streams were also briefly presented.

Facilitators confirmed that the TEC is a valuable tool for increasing transatlantic economic integration that complements other bilateral initiatives, such as the Transatlantic Trade and Investment Partnership (TTIP), the High Level Regulatory Cooperation Forum (HLRCF), and the Energy Council. On this basis, Facilitators called for work under the TEC to continue delivering and producing concrete outcomes in such innovative and economically important areas. TEC facilitators expressed also their strong support for holding a TEC meeting in 2013, possibly in the fall.

A joint report to stakeholders is expected to be published shortly, summarizing discussions under each specific TEC work stream.

The Transatlantic Economic Council was set up in 2007 to guide and stimulate the work on transatlantic economic convergence. It brings together a wide range of ongoing economic cooperation activities in issues of mutual interest and provides for a platform to give political guidance and direction to this work. At the same time, the TEC provides for a political forum for discussing strategic global economic questions. The TEC is co-chaired by the White House Deputy National Special Advisor for International Economic Affairs, Michael Froman, and European Commissioner for Trade, Karel De Gucht.

For further information on the Transatlantic Economic Council and the overall EU-US Trade and Investment relationship: