As Carl Bildt underlined in the Riksdag today, the US is Europe’s main international partner, on the security and prosperity agendas.
So the UK government welcomes, as Sweden does, President Obama’s call in his State of the Union Speech last night for what he called “a Transatlantic Trade and Investment Partnership” with the EU. Britain has been arguing hard for this, including in our role as G8 presidency.
David Cameron said today:
“It’s great that President Obama has set out his determination to agree a trade deal between the EU and the United States. We discussed this issue on Monday and we are both committed to launching negotiations this year. A deal will create jobs on both sides of the Atlantic and make our countries more prosperous. Breaking down the remaining trade barriers and securing a comprehensive deal will require hard work and bold decisions on both sides. But I am determined to use my chairmanship of the G8 to help achieve this and to help European and American businesses succeed in the global race.”
Our Trade Minister, Lord Green added that this was a “once-in-a-generation opportunity to liberalise trade fully between the world’s two largest trading blocs. An agreement could boost the European economy by more than Ł50bn – the biggest prize from any trade deal currently under way.”