EU-US Summit to revitalise Transatlantic Business Dialogue

In the margins of the EU-US Summit on 25 June, Enterprise Commissioner Liikanen and Trade Commissioner Lamy will participate in the relaunch of the New Transatlantic Business Dialogue.

In a new meeting of the TABD from 23-25 June, the business leaders have planned a relaunch of the New Transatlantic Business Dialogue. Two Commissioners will attend the informal meeting to express their support for the renewed co-operation.

 

In a joint letter to the EU-US Summit on 23 June, theAmerican Business Round Table (BRT)and theEuropean Round Table of Industrialists (ERT)welcomed the efforts to revitalise the TABD. Mr. P.M. Condit, Chairman of the BRT and CEO of Boeing Company, and ERT and Thyssen Krupp chairman Gerhard Cromme urged President Bush and the European summit leaders to demonstrate a shared commitment to keep world trade negotiations on schedule.

On the other hand, NGOs are less happy with the relaunch of the TABD. In a press release, the Amsterdam-basedCorporate Europe Observatoryopposed the relaunch stating: "Boosting the power of business over trade and regulatory policies is the worst possible response to the escalating number of EU-US trade conflicts". Erik Wesselius, policy analyst at Corporate Europe Observatory said: "The new initiative to relaunch the TABD, driven by the European Commission, shows that the Commission continues to ignore civil society calls for democratising EU trade policy and reorienting it towards environmental and social sustainability. The European Commission's continued support for the TABD is at odds with democratic trade policy-making. As a step towards reducing excessive corporate power, the TABD process should be abolished immediately."

 

Established in 1995 with a mandate from the US government and the European Union, the Transatlantic Business Dialogue (TABD) is an international coalition of US and EU business leaders. Its main aim is to promote and boost transatlantic trade and investments by eliminating barriers to trade. In the last few years, the process got stalled because of several trade tensions between the US and the EU.

 

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