»»US-EU Lay the Basis for a Single Market
U.S. and EU have signed a pact designed to boost trade and investment by harmonising regulatory standards.
The two sides agreed to set up an “economic council” to push ahead with regulatory convergence in nearly 40 areas, including intellectual property, financial services, business takeovers and the motor industry. The aim is to increase trade and lower costs.
Visa hope
The EU is hoping that the US will agree to withdraw its demand for travellers from a number of EU states to apply for visas.
It also wants an agreement to start work on another aviation deal, that would deepen the Open Skies pact (deal designed to reduce fares and boost traffic on transatlantic flights), and enable Europeans to buy US airlines.
(source: BBC)
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