U.S. Chamber President Speaks on Importance of Transatlantic Relationship with Sweden

Addresses Energy, Trade, Regulatory Reform and IP Issues

STOCKHOLM, SWEDEN-U.S. Chamber of Commerce President and CEO Thomas J. Donohue stressed today that it is imperative the U.S. and Europe work together to find solutions to global challenges including energy, trade, regulatory reform, and IP to stay competitive in the 21st century. In his speech to Sweden's American Chamber of Commerce, he also discussed the latest political and economic developments in the U.S., and the upcoming challenges facing American businesses.

"While competitiveness is a must for both the U.S. and Europe- we must also find ways to respond to major global challenges, like energy prices, climate change, the theft of our intellectual property and the need to attract workers and human talent," said Donohue. "It is important that we, the leading economies of the world, step up to the plate and provide the leadership that's expected of us and cooperate where we can to find solutions."

In his speech, Donohue acknowledged that energy prices seem to represent the biggest hit on the U.S. economy, but added the American economy is nothing if not resilient and will work through these current difficulties. He also discussed the Chamber's agenda for the 21st century and how it plans to focus extraordinary resources to advance such issues as reforms in education, immigration, transportation, energy, and the legal system. The Chamber's Institute for 21st Century Energy, he said, is working hard to shape and advance a new approach for the United States-an approach that supplies our economy with diverse, secure, clean and affordable energy while also responding effectively to climate change.

"Sweden has done a good job in significantly diversifying its energy mix and substantially reducing its reliance on traditional sources," added Donohue. "But it took over 30 years to get there in a country of 9 million people. Sweden's experience is a testament to what is achievable in energy diversity, but it also illustrates the reality that it takes time and long-term commitment."

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.

The speech can be viewed at: http://www.uschamber.com/press/speeches/2008/080603_donohue_sweden.htm

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