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U.S. Chamber Pushes Commerce Between U.S.-E.U.

Monday, February 21, 2005 - 7:00pm

WASHINGTON, D.C. – The United States Chamber of Commerce signed a joint declaration with two European counterparts, during President Bush's European visit, advocating a U.S.-E.U. investment and regulatory cooperation agreement would increase transatlantic commerce.

"Strong economic ties between Europe and the U.S. are essential to our continued prosperity and global economic growth," said Thomas Donohue, Chamber President and CEO. "Improving the international dialogue in the areas of corporate governance, accounting, and national security will strengthen the free flow of goods and services between the two continents."

In this joint declaration with AmCham EU and UNICE, a European business federation, the Chamber committed to conclude the Doha Round of negotiations and begin negotiations on a U.S.-E.U. investment and regulatory cooperation agreement.

"Political engagement is in order to renew momentum and unleash the growth potential for both economies," continued Donohue. "European and American businesses are dedicated to ambitious transatlantic trade, investment and regulatory cooperation."

Total transatlantic investment between the U.S. and EU is almost $1.8 trillion. The transatlantic economy generates over $1 billion of trade per day and employs over 12 million people.

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

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