[Federal Register: June 9, 1998 (Volume 63, Number 110)]
[Notices]
[Page 31546-31548]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr09jn98-144]
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OFFICE OF THE UNITED STATES TRADE REPRESENTATIVE
United States-European Union Transatlantic Economic Partnership
AGENCY: Office of the United States Trade Representative.
ACTION: Notice and Request for Comments.
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SUMMARY: Pursuant to their recently-announced Transatlantic Economic
Partnership (TEP) initiative, the United States and the European Union
(EU) have proposed: to negotiate the reduction of barriers to U.S.-EU
trade in goods, services, and agricultural products; cooperate in
promoting international efforts to open markets around the world, and
encourage the bilateral exchange of views between governments,
business, non-governmental organizations on trade, investment, and
related issues. The Office of the United States Trade Representative
seeks public comment on the initiative, including possible areas for
negotiation and cooperation, and on procedures to obtain advice from
interested parties.
DATES: Comments should be submitted no later than July 6, 1998.
ADDRESSES: Comments may be submitted to Gloria Blue, Executive
Secretary, TPSC, Office of the U.S. Trade Representative, Room 503, 600
17th Street, N.W., Washington, DC 20508.
FOR FURTHER INFORMATION CONTACT:
Ralph Ives, Deputy Assistant U.S. Trade Representative for Europe and
the Mediterranean or Mark Mowrey, Director for European Regional
Affairs (202) 395-4620.
SUPPLEMENTARY INFORMATION: On May 18, 1998, President Clinton and his
EU counterparts issued a joint statement announcing the TEP (reprinted
following this notice). The TEP will have three components: (1)
Negotiations to reduce barriers to bilateral trade in services,
industrial goods, and agricultural products; (2) cooperative efforts in
the World Trade Organization (WTO) and other international
organizations to reduce or eliminate barriers that hinder international
trade and capital flows and to address other related issues; (3) and
efforts to enhance the transatlantic dialogue between business, non-
governmental organizations, and governments on trade and investment
matters.
The bilateral trade and investment component of the TEP will
address trade barriers, particularly unnecessary regulatory
impediments, that hinder transatlantic trade in such sectors as
electronic commerce, services, agricultural products, government
procurement, and intellectual property rights (IPR), while seeking to
advance shared labor and environmental values. U.S. and EU efforts to
increase their cooperative efforts in appropriate multilateral
organizations will encompass such areas as services, agricultural
goods, industrial tariffs, IPR, trade facilitation, electronic
commerce, government procurement, trade and the environment, and
support for the observance of internationally-recognized core labor
standards.
The TEP will be implemented in a transparent manner that places a
high priority on obtaining the views of business, labor, environmental,
and
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other interested non-governmental constituencies. As a first step
toward implementing the TEP, U.S. agencies will work with the EU to
develop an action plan and timetable for achieving results.
Public Comments
In conformity with the regulations of the Trade Policy Staff
Committee (``TPSC'') (15 CFR Part 2003), the Chairman of the TPSC
invites written comments from interested persons on the scope of this
initiative, proposals for negotiation and/or cooperation, and
procedures to enhance transparency and non-government participation in
the TEP. Comments are invited in particular on: (a) Specific
initiatives to reduce barriers to bilateral trade and investment in the
sectors and subject areas included in the TEP; (b) specific proposals
for enhanced bilateral cooperation in the WTO or other appropriate
international organizations, as described in the joint statement,
regarding trade in services, IPR, agricultural products, electronic
commerce, trade and the environment, and labor issues; (c) the economic
benefits and costs to U.S. producers and consumers of trade and
investment barrier reduction under the TEP; (d) specific proposals for
procedures to facilitate the exchange of views between business and
other non-governmental constituencies and the governments concerned
regarding matters subject to the TEP; and (e) other aspects of the
initiative, including its labor, environmental, health, and safety
aspects.
Interested persons may submit written comments, in five (5) typed
copies, as soon as possible but no later than July 6, 1998. Comments
should state clearly the position taken and should describe the
specific information (including data, if possible) supporting that
position. Any business confidential material must be clearly marked as
such on the cover page (or letter) and succeeding pages and must be
accompanied by non-confidential summary thereof.
Non-confidential submissions will be available for public
inspection at the USTR Reading Room, Room 101, Office of the United
States Trade Representative, 600 Seventeenth Street, NW, Washington,
DC. An appointment to review the file may be made by calling Brenda
Webb at (202) 395-6186. The reading room is open to the public by
appointment only from 9:30 a.m. to 12:00 noon and from 1:00 p.m. to
4:00 p.m., Monday through Friday.
Frederick L. Montgomery,
Chairman, Trade Policy Staff Committee.
EU/US Summit, London 18 May 1998
The Transatlantic Economic Partnership
1. The transatlantic economic relationship is underpinned by the
most important trade and economic links in the world. In order to
strengthen further these links to the benefit of our people and
firms, we have decided to build on the New Transatlantic Agenda
signed in Madrid in 1995. This initiative will reinforce our
cooperation and joint leadership in international economic relations
and fora.
2. The European Union (EU) and the United States (US) share the
world's largest and most complex economic relationship. Two-way
trade represents around one-fifth of each other's total for goods
and one-third for services. Furthermore the US and EU each account
for approximately half of the other's foreign direct investment
abroad. The prosperity of our populations is intertwined to an ever-
increasing extent; and as the European Union has grown and deepened
its integration, this process has accelerated.
3. We have a fundamental interest in a dynamic, respected system
of international trade rules. The size of our economies and the
volume of transatlantic trade and investment have a significant
effect on this system. Past multilateral efforts to open markets
have often been led by the US and EU. As we look ahead, it will be
important for the US and EU of demonstrate our support for the
further opening of markets world-wide.
4. In 1995, we committed ourselves to expand and deepen
cooperation on economic issues through the New Transatlantic Agenda
(NTA) by taking concrete steps to strengthen the multilateral
trading system and enhance the transatlantic economic relationship.
We are pleased with the progress of the NTA so far. Under the NTA,
we have laid the basis for multilateral trade negotiations and have
finalized agreements on mutual recognition of testing and conformity
assessment, customs co-operation and equivalency in veterinary
standards and procedures. And in December 1997 we committed
ourselves to enhance our regulatory cooperation while facilitating
consumer protection.
5. We now believe the time has come to build on the NTA's highly
significant achievements. Accordingly, we agree to reinforce our
close relationship through an initiative involving the
intensification and extension of multilateral and bilateral
cooperation and common actions in the field of trade and investment.
Our reinforced partnership can be instrumental in setting the agenda
for a more open and accessible world trading system and at the same
time can greatly improve the economic relationship between the EU
and US, reduce frictions between us, and promote prosperity on both
sides of the Atlantic.
6. The partnership will encompass multilateral and bilateral
elements as outlined below.
Multilateral Action
7. In keeping with our leading role in the world trade system,
we reaffirm our determination to maintain open markets, resist
protectionism and sustain the momentum of liberalization. The most
effective means of maintaining open markets and promoting the
expansion of trade is the continued development and strengthening of
the multilateral system. The EU and US will give priority to
pursuing their objectives together with other trading partners
through the World Trade Organization. Today's WTO Ministerial
Conference will play an important role in carrying forward the
implementation of the WTO built-in agenda and in laying the
groundwork for further multilateral negotiations leading to broad-
based liberalization.
8. As part of our effort to strengthen further the multilateral
system and seek wider trade liberalization, our shared objectives
are:
(a) The full implementation of WTO commitments and respect for
dispute settlement obligations;
(b) Ambitious objectives and offers for the liberalization of
services in forthcoming WTO negotiations;
(c) The multilateral negotiations for the continuation of the
reform process in agriculture in full conformity with Article 20 of
the WTO Agreement on Agriculture;
(d) The intensification of forward-looking work in the WTO on
trade facilitation;
(e) A broad WTO work programme for the reduction on an MFN basis
of industrial tariffs and the exploration of the feasibility of
their progressive elimination within a timescale to be agreed;
(f) The adoption of common positions on the respect for and
further improvement of the intellectual property rights identified
in the Agreement on Trade-Related Aspects of Intellectual Property
Rights (TRIPS);
(g) The development of common approaches in appropriate
multilateral fora on investment competition, public procurement and
trade and the environment;
(h) Cooperation on the accession of new members and the better
integration of LLDCs in the multilateral trading system;
(i) The development of a comprehensive work programme for
electronic commerce in the WTO covering trade-related aspects and
will continue the current practice of not imposing customs duties on
electronics transmissions;
(j) Support for the observance of internationally recognized
core labour standards and the goal of reaching agreement on an ILO
declaration and follow-up mechanism, noting the important role of
the social partners in the process, and rejecting use of labour
standards for protectionist purposes; and support for the
continuation of the dialogue on measures in the relevant fora to
combat corruption.
Bilateral Action
9. The EU and the US will intensify their efforts to reduce or
eliminate barriers to trade and investment between them. This will
be done in ways which are in full conformity with their
international and, in particular, WTO obligations and supportive of
the primary goal of multilateral liberalization
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making as much progress as possible before 2000. Such efforts will
expand transatlantic commerce and reduce frictions, benefiting both
our peoples. We will maintain high standards of safety and
protection for health, consumers and the environment. Our
partnership will not create new barriers to third countries.
10. We will focus on those barriers that really matter to
transatlantic trade and investment and to this end we will aim in
particular at the removal of those regulatory barriers that hinder
market opportunities, both for goods and for services. We will
concentrate specifically on the following:
(a) Technical barriers to trade in goods, reinforcing our
efforts for the elimination or substantial lowering of the remaining
barriers, while further pursuing our commitment to high health,
safety and environmental standards;
(b) Services, with the aim of substantially improving
opportunities for market opening to the benefit of consumers and
small, medium and larger enterprises;
(c) Agriculture, with the objective of strengthening our
regulatory cooperation in the field of human, plant and animal
health issues, including biotechnology, while recognizing the
importance of continuing to improve our respective regulatory
processes and of improving our scientific cooperation;
(d) Government procurement to increase and facilitate access to
public procurement markets, including by enhancing the compatibility
of electronic procurement information and government contracting
systems;
(e) Intellectual property as identified in the Agreement on
TRIPS in order to improve the protection of rightholders and to
reduce costs.
11. We will build on efforts already underway for goods but
extending to services, to cover as wide a range of barriers and
sectors as possible identifying the priorities both for the near and
longer term. Instruments to achieve this will be:
(a) The mutual recognition of testing and approval procedures,
of equivalence of technical and other requirements and, in certain
areas, where appropriate, the progressive alignment or, where
possible, the adoption of the same standards, regulatory
requirements and procedures adopting internationally agreed
standards where possible;
(b) The intensification of the dialogue between scientific and
other expert advisers, standard setting bodies, and regulatory
agencies;
(c) High degree of transparency and consultation with all
interested parties.
12. Within the framework of our bilateral partnership we will
seek to advance our shared values in the areas of labour and
environment.
13. We will explore the scope for further cooperative dialogue
and greater compatibility of procedures between our competition
authorities.
14. We will maintain and extend our work on electronic commerce
as set out in the joint statement at the Washington Summit of
December 1997.
Extending the Transatlantic Dialogue
15. The EU and US recall the imaginative and practical approach
of EU and US business in the Transatlantic Business Dialogue which
has contributed directly to many of the NTA's successes, such as the
Mutual Recognition Agreement. We urge the TABD to continue and
extend its valuable contribution to the process of removing barriers
to trade and investment. We reaffirm our commitment in the New
Transatlantic Agenda to promote dialogue between representatives of
consumer and labour interests as illustrated by the helpful second
meeting of the Transatlantic Labour Dialogue held in London in
April. We invite interested non-governmental organizations to
participate and extend this dialogue on consumer protection,
scientific, safety and environmental issues relevant to
international trade as a constructive contribution to policy making.
16. In line with our commitment to encourage greater
transparency in the work of international trade bodies, we will seek
to facilitate the closer association of business and other
interested non-governmental constituencies with the activities of
the WTO and other international trade organizations, as well as with
our bilateral activities.
17. Within the framework provided by the NTA we will establish a
dynamic process yielding concrete results with the intention of
applying them, where agreed, at the relevant levels of government in
the EU and the US; and to this end we will pursue the multilateral
and bilateral actions set out in this statement as follows:
(a) Establish as soon as possible a Plan identifying areas for
common actions both bilaterally and multilaterally, with a timetable
for achieving specific results;
(b) Take all necessary steps to allow the early implementation
of this Plan, including any necessary authority to start
negotiations.\1\
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\1\ Nothing in this text constitutes an EU negotiating mandate.
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[FR Doc. 98-15290 Filed 6-8-98; 8:45 am]
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