Fiji Time: 2:55 PM on Sunday 21 December

Fiji Times Logo

/ Front page / Business

EU, US talk trade

Bbc.Co.Uk
Friday, February 15, 2013

THE European Union and the US will begin formal talks on a free-trade agreement, paving the way for the biggest trade deal in history.

European Commission President Jose Manuel Barroso made the announcement following President Barack Obama's State of the Union address.

The US said "everything is on the table" in the talks. A deal would bring down trading barriers between the two biggest economies in the world.

EU-US trade is worth around 455bn euros ($F1.087trillion) a year.

"A future deal between the world's two most important economic powers will be a game-changer, giving a strong boost to our economies on both sides of the Atlantic," said Mr Barroso, speaking in Brussels.

The EU estimates that a "comprehensive and ambitious agreement" will boost annual GDP growth by 0.5 per cent.

Mr Obama announced US support for talks as part of his annual address to the US Congress on Tuesday, saying a free-trade deal would "boost American exports, support American jobs and level the playing field in the growing markets of Asia". It is not clear how long the talks will take, but similar trade deals have involved years of negotiations.





Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Today's Most Read Stories

  1. Millionth man
  2. Mourinho urges Hazard
  3. Rodgers makes sharp exit
  4. Lapse of defence costly
  5. Wardens win Mokani 7s meet
  6. $10m for State coffers
  7. In the top 3
  8. Joy of sharing and caring this festive season
  9. Van Gaal waits for 'perfect' game
  10. Good Samaritans bring smiles to gloomy faces

Top Stories this Week

  1. TV pair sent home Wednesday (17 Dec)
  2. My boy, my hero Monday (15 Dec)
  3. Justice and sleep at last Thursday (18 Dec)
  4. She's gone but the pain stays Tuesday (16 Dec)
  5. TERROR ALERT Gunmen strike Sydney cafe Tuesday (16 Dec)
  6. Clan leader calls for harsher penalties Wednesday (17 Dec)
  7. Five-try Fiji forge Plate final berth Monday (15 Dec)
  8. Court told of baby's tragic end Thursday (18 Dec)
  9. 441 new positions Wednesday (17 Dec)
  10. A-G: Claim ludicrous Friday (19 Dec)