On April 25, the U.S. Chamber of Commerce and the Federation of German Industries (BDI) hosted a bilateral U.S.-German Business Summit at Hannover Messe to look at “The Future of the Transatlantic Relationship.” As the esteemed Partner Country at this year's industrial fair, the United States has been prominently featured throughout the Hannover Messe. President Obama and much of his cabinet personally attended to underline their commitment to Germany, to Europe, and to the future of transatlantic economic cooperation.

One critical element guiding the future of the economic relationship between the United States and the European Union is the completion and implementation of an ambitious and high-standard Transatlantic Trade and Investment Partnership (TTIP) agreement. With that in mind, U.S. Chamber President and CEO Tom Donohue and BDI President Ulrich Grillo presented U.S. Commerce Secretary Penny Pritzker, U.S. Trade Representative Michael Froman, and European Commissioner for Trade Cecilia Malmström with a joint declaration in support of the TTIP negotiations.

Joint Declaration from US Chamber-BDI on TTIP

As the statement emphasizes, a comprehensive trade and investment agreement will "boost growth on both sides of the Atlantic and ensure that the United States and European Union continue to lead the drive for trade and investment liberalization globally." These negotiations represent a once-in-a-generation opportunity to significantly bolster our trade and investment ties with each other's largest trading partner, and we should seize this chance to move ahead.