Germany seeks transatlantic economic partnership

3rd January 2007, Comments 0 comments

3 January 2007,

3 January 2007

Frankfurt (dpa) - Germany wants to make a "transatlantic economic partnership" between the European Union and the United States its top priority during its six-month presidency of the EU, Chancellor Angela Merkel said in a newspaper interview published Wednesday.

Merkel told the Financial Times that her ambition was to create a single transatlantic market for investors, with common rules and standards on issues such as intellectual property and financial regulation.

Merkel, who also holds the chair of the Group of Eight (G8) industrialised nations for 2007, would underline the importance she attached to restoring transatlantic ties by flying to Washington on Thursday to meet US President George W. Bush.

"Our economic systems are based on the same values," the German leader told the FT. "We must watch out that we do not drift apart but instead come closer together, where there are clear advantages for both sides."

She added: "We have accumulated a certain expertise about single markets in Europe. We have learnt how to combine the Anglo-Saxon and Continental European legal systems, which are very different from one another ... I think transatlantic cooperation will be more straightforward in many areas than might appear at first glance."

The FT said Merkel's initiative for a transatlantic economic partnership might face opposition from a more protectionist US and other EU member states.


Subject: German news

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