U.S. Chamber and BUSINESSEUROPE Announce Strategic Partnership to Achieve Regulatory Cooperation

Partnership to Help Eliminate Barriers to Transatlantic Trade

WASHINGTON, D.C.—The U.S. Chamber of Commerce and BUSINESSEUROPE, the largest European business organization (www.businesseurope.eu/), today announced a new strategic partnership to monitor the progress of the recently created U.S. and EU Transatlantic Economic Council (TEC). This council was established to address regulatory barriers between the transatlantic markets.

"There has been little success in addressing the regulatory barriers that exist between the U.S. and Europe, the two largest commercial markets in world," said Stanton Anderson, chair of the Chamber's new Global Regulatory Cooperation Project. "We aim to change that and ensure our governments actually accomplish what they have promised."

The latest U.S.-EU Summit in April led to the creation of the TEC. TEC, which is made up of U.S. and EU government officials, is the latest attempt in nearly two decades to achieve regulatory cooperation and create barrier-free markets to benefit businesses and consumers.

Both the U.S. and EU have agreed to renew their commitments and have laid out an ambitious agenda of regulatory cooperation. The Chamber and BUSINESSEUROPE believe that it is important for the private sector to be fully engaged and for respective governments to be accountable for delivering results, something that has largely eluded past agreements.

"Working with the Chamber, we will apply the appropriate political pressure as well as guide governments to make regulatory cooperation a top priority commercial issue between the Unites States and Europe," said Ernest-Antoine Seillière, President of BUSINESSEUROPE.

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

BUSINESSEUROPE, the Confederation of European Business, represents more than 20 million small, medium and large companies. Active in European affairs since 1958, BUSINESSEUROPE members are 39 central industrial and employers' federations from 33 countries, working together to achieve growth and competitiveness in Europe.

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