Press Release: EU and US boost economic partnership

The European Union and the United States have strengthened transatlantic economic ties through a number of new initiatives. At the Transatlantic Economic Council (TEC), senior EU and US leaders agreed to facilitate their customs procedures, to strengthen their cooperation on electric vehicle and smart grid research and in the fields of new technologies, such as cloud computing, and raw materials.

The leaders also discussed a number of strategic economic questions, in particular transatlantic economic cooperation in the Southern Mediterranean and in emerging economies. Furthermore, the EU-US Summit yesterday tasked the TEC to establish a new High-Level Working Group on Jobs and Growth to identify options to further enhance EU-US economic relations.