Arab Today, arab today eu us launch talks on vast free trade deal
Last Updated : GMT 22:26:31
Arab Today, arab today
Arab Today, arab today

EU, US launch talks on vast free trade deal

Arab Today, arab today

Arab Today, arab today EU, US launch talks on vast free trade deal

Enniskillen - AFP

The European Union and the United States on Monday launched long-awaited formal negotiations to create what would be the world\'s biggest ever free trade area. US President Barack Obama said the first round of negotiations on a pact aimed at creating jobs and boosting the fragile global economy would take place in Washington next month. Speaking just before the start of the G8 summit in Lough Erne, Northern Ireland, British Prime Minister David Cameron said: \"We are talking about what could be the biggest bilateral deal in history. \"This is a once-in-a-generation prize and we are determined to seize it.\" The process is expected to take up to two years, an ambitious target for such complex international talks. Obama said the deal \"will support hundreds of thousands of jobs on both sides of the ocean\". \"There are going to be sensitivities on both sides... but if we can look beyond the narrow concerns to stay focused on the big picture... I\'m hopeful we can achieve (a deal).\" The US president said reaching an agreement \"will be a priority of mine and my administration\". If a Free Trade Agreement (FTA) can be reached it would be the world\'s largest: trade in goods between the United States and the 27-country EU last year was worth some 500 billion euros ($670 billion), with another 280 billion euros in services and trillions in investment flows. The EU says establishing a Free Trade Agreement would add about 119 billion euros annually to the EU economy, and 95 billion euros for the United States. The head of the EU executive, Jose Manuel Barroso, speaking at the same news conference, said a deal could create \"huge economic benefits\". \"These negotiations will not always be easy but I am sure they will be worth it,\" Barroso said. \"The current economic climate requires us to join forces and to do more with less.\" Barroso said they would \"move fast\" to seal the deal. Negotiations will start despite a hard line by France to protect its cherished film and culture sectors from Hollywood, which is seen as potentially offering a bargaining chip to the US side. A compromise was struck in tense talks in Luxembourg only on Friday. France insisted that the audiovisual sector be excluded from the negotiations and after 13 hours of talks, a compromise was reached agreeing to Paris\' demand while stating that the European Commission could come back on the question if necessary. Barroso had earlier weighed in with an unusually outspoken criticism of France for its \"reactionary\" behaviour to defend its audiovisual and cultural industry. French President Francois Hollande reacted spikily to Barroso\'s words. \"I do not want to believe that the president of the European Commission could have made these statements on France,\" he told reporters. France jealously guards its cultural sector: French television stations are required to air at least 40 percent home-produced content, with another 20 percent coming from Europe before American TV soap operas even get a look in. Cinema-goers pay a levy on each ticket to help fund the French film industry, which many believe could not survive without such support in the face of Hollywood\'s dominance. EU officials have repeatedly warned that excluding any economic sector could hand the United States an early bargaining chip in what promise to be tough negotiations. Washington says no areas should be excluded from the talks although there have been reports that it may seek an exception for some financial services. European leaders agreed that time was of the essence as both Europe and America face the challenge of a rising Asia. German Chancellor Angela Merkel agreed that the talks should start as soon as possible. \"We need to start the negotiations quickly and show ambition so that in the foreseeable future -- and I\'m talking a few years\' time -- we can reach agreement,\" Merkel told reporters. \"We\'ve tried a couple of times before and now we have an obligation to reach a successful conclusion. And we must really work quickly because there are various free-trade agreements being negotiated in different parts of the world, for example between the USA and the Pacific region.\" European Council president Herman Van Rompuy said there was \"too much at stake\" to be bogged down in disputes.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu us launch talks on vast free trade deal Arab Today, arab today eu us launch talks on vast free trade deal

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu us launch talks on vast free trade deal Arab Today, arab today eu us launch talks on vast free trade deal

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Barcelona through George Orwell’s eyes

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday