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Ärende: Press Release (050620h) for Mon, 2005 Jun 20
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The United States and the European Union Initiative to Enhance
Transatlantic Economic Integration and Growth
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For Immediate Release
June 20, 2005

The United States and the European Union Initiative to Enhance
Transatlantic Economic Integration and Growth
ANNEX



To implement the Declaration on Enhancing Transatlantic Economic
Integration and Growth we will undertake the following:

Promoting Regulatory and Standards Cooperation

We recognize the importance of U.S.-EU regulatory cooperation for the
well-being of our citizens and commercial relations, and note the rich
network of cooperative exchanges already underway. Our aim is to build
effective mechanisms to promote better quality regulation, and minimize
unnecessary regulatory divergences to facilitate transatlantic trade and
investment and increase consumer confidence in the transatlantic market.

To achieve this we will encourage enhanced regulatory cooperation under the
2005 Roadmap for U.S.-EU Regulatory Cooperation, including: establishment
of a senior-level dialogue on best regulatory policies and practices;
identification of resources and mechanisms to support exchanges for U.S.
and EU regulatory experts; and expansion of successful sectoral
initiatives. We will further encourage dialogue on standards issues.

Further, we will establish a U.S.-EU high-level Regulatory Cooperation
Forum, through which senior U.S., European Commission and, where
appropriate, other European Community regulators would be encouraged to
exchange views, share experiences, and learn from each other regarding
general or crosscutting regulatory cooperation approaches and practices of
mutual interest. This forum is intended to complement the informal OMB-EC
dialogue and separate sectoral regulatory cooperation activities between
the U.S. and the European Commission. We will continue to use the U.S.-EU
Financial Markets Regulatory Dialogue, referred to below, as the venue for
financial regulatory discussions.

This informal mechanism should promote enhanced cooperation in line with
the 2002 Guidelines for Regulatory Cooperation and Transparency and should
also be the focal point for exchanges and discussion of annual regulatory
work programs. Such a review could help identify additional prospective
areas/priorities for U.S.-EU regulatory cooperation, and facilitate early
warning about possible divergent regulatory approaches.

Regulators should autonomously assess progress for ongoing cooperation
activities and set objectives with specific actions to be achieved within
the next year. The compilation of these plans, jointly agreed upon by U.S.
and European regulators, would constitute priorities for U.S.-EU regulatory
cooperation to be submitted annually at the U.S.-EU Summit.

The forum should organize meetings and conferences on regulatory issues of
mutual interest. To gain broader perspective, other regulators as well as
representatives from academia, think-tanks, businesses, NGOs and other
organizations will be invited to participate, as appropriate.

We look forward to annual updates on work in each of our many regulatory
dialogues. We will consider the most appropriate instruments or approaches
to advance our cooperation on a case-by-case basis, taking into account
developments in regulatory cooperation.

Stimulating Open and Competitive Capital Markets

Dynamic capital markets are a catalyst for growth and innovation. Our aim
is to increase the integration and efficiency of our respective capital
markets and work together to make transatlantic financial markets operate
seamlessly. To achieve this, we will continue to use the U.S.-EU Financial
Markets Regulatory Dialogue (FMRD) to (1) anticipate, identify and discuss
financial regulatory issues, by continuing to review legislative and
regulatory developments (including implementation and enforcement) and (2)
promote progress on issues of concern to each other.

Among other areas, we will focus the discussion on: implementation and
enforcement of financial market reforms; promoting convergence of
accounting standards as soon as possible; removing barriers to further
integration of clearing and settlement systems; encouraging competition
among trade execution venues; promoting deeper and wider capital markets;
making progress on deregistration reform and on insurance issues; making
progress on adoption and implementation of Basel II; and taking steps to
help build the transatlantic venture capital market.

The U.S. and the EU share common concerns in the fight against corporate
and financial fraud, money laundering, financing of terrorism, tax evasion,
corruption and other malpractices. The U.S. will work together with the
Commission and Member States, as appropriate, to encourage adoption of the
highest standards of transparency, exchange of information and cooperation
among competent authorities.

The U.S. and the EU would also explore ways to improve our dialogue on
macroeconomic and structural issues of common interest in ways that
complement discussions in other fora such as the G-7.

Spurring Innovation and the Development of Technology

The U.S. and EU will increasingly rely on innovation and advanced
technologies to stimulate economic growth and prosperity. Our aim is to
increase synergies across the Atlantic as we become more knowledge-based
economies.

To achieve this, we will work to:
  þ encourage collaboration on long-term basic research within the context
    of the U.S.-EU Science and Technology agreement, and develop exchanges
    of good practices concerning the policies needed to support science and
    innovation;
  þ promote cooperation using civilian space-based technologies for
    sustainable development, science/exploration, and deepening the
    knowledge society;
  þ support an international dialogue and cooperative activities for the
    responsible development and use of the emerging field of
    nanotechnology;
  þ renew and reinforce the U.S.-EU agreement on Higher Education and
    Vocational Training, which includes the Fulbright/European Union
    program, to boost education cooperation and transatlantic exchanges
    between our citizens;
  þ encourage the commercial application of output from research,
    identifying cooperative actions to improve rapid commercialization,
    using, inter alia, incubator environments, venture capital and
    technology transfer;
  þ promote E-accessibility for the disabled, elderly and other citizens
    with accessibility issues;
  þ encourage deployment of key innovative technologies such as broadband
    and radio frequency identification devices, without prejudice to
    consumer and data protection;
  þ encourage collaboration on development and take up of Intelligent
    Transport Systems/ Telematics for intelligent vehicles;
  þ establish a dialogue on cyber-security to bring together regulators,
    law enforcement and, as appropriate, intelligence agencies;
  þ support OECD efforts to develop an approach to international redress
    for international internet purchases;
  þ cooperate to tackle spam through joint enforcement initiatives, and
    explore ways to fight against illegal "spyware" and "malware;" and
  þ explore cooperative work on health and medical technologies.

Enhancing Trade, Travel and Security

Ensuring the security of people and goods in transit is fundamental to
deepening the U.S.-EU relationship. Our aim is to create a more secure and
efficient transatlantic and global supply chain by developing and adopting
effective, compatible security standards and customs benefits. We welcome
progress made to secure the end-to-end supply chain under the 2004 U.S.-EU
Agreement on Enhanced Customs Cooperation. Our joint efforts contributed
significantly to development of the World Customs Organization framework of
standards for security and facilitation. We strongly support adoption of
this framework by the WCO Council in June 2005, and are committed to its
implementation. We will build on this progress to continue working toward
avoiding adverse consequences for transatlantic shippers, including by
working to ensure the compatibility of the EU's Authorized Economic
Operator concept and the U.S. C-TPAT Program. We also will seek compatible
practices and standards to enhance air transport security and facilitate
air cargo traffic. We agree to pursue measures to facilitate business and
tourist travel, including consideration of a "trusted persons" initiative,
and explore means to increase cooperation in research and development of
security-related technologies. The U.S. and the EU continue to support
on-going discussions on reciprocal visa exempt travel for short-term stays
for our citizens.

Promoting Energy Efficiency

The U.S. and EU will work together, to advance energy security, renewables,
energy efficiency and economic development, as highlighted in the
attachment to this Annex. We recognize the benefits that can result from
sustained and coordinated policies on energy efficiency. We wish to support
developing countries in their efforts to meet their basic energy needs by
promoting sound energy policies and applying new, clean energy
technologies. We will continue to work together to promote clean and
efficient carbon sequestration technologies, all forms of renewable energy,
and the next generation of hydrogen and other clean and safe energy
technologies.

Protection of Intellectual Property Rights

Growing global piracy and counterfeiting threatens the competitiveness of
innovative industries, the livelihoods of creative artists and workers, and
the health and safety of consumers in the European Union, the United States
and beyond. We are committed to effectively combating piracy and
counterfeiting at home and abroad. The U.S. and EU will coordinate our
respective efforts, as highlighted in the Declaration we have issued today.
To enhance the effectiveness and efficiency of the patent system more
generally, the EU and the U.S. will work together to ensure progress in
international fora.

Investment

Investment flows are a vital part of our transatlantic economic
relationship, with bilateral direct foreign investment standing at nearly
$2 trillion and growing by the day. To further promote economic growth,
jobs, competitiveness and consumer benefits, we undertake to facilitate
transatlantic investment opportunities to the fullest, including by
providing efficient, comprehensive and easily accessible information on
investment regimes and policies to attract investment, with a special focus
on informing small and medium enterprises. We agree to discuss any
significant remaining obstacles to transatlantic investment that the other
party identifies, and will consider how to address and reduce such
obstacles with a view to promoting closer transatlantic economic
integration.

Competition Policy and Enforcement

As our economies have become ever more intertwined, the enforcement of
competition laws by authorities on one side of the Atlantic increasingly
has consequences for the other jurisdiction. The European Commission and
U.S. competition authorities cooperate intensively under the 1991 and 1998
agreements, coordinating enforcement activities and exchanging
non-confidential information. To further enhance this cooperation, our
authorities will explore ways to allow them to exchange certain
confidential information, including with respect to international cartels.

Procurement

The United States and the European Union recognize the benefits of open and
competitive procurement markets. The EU and U.S. should reinforce their
co-ordination and co-operation with a view to fostering progress in
plurilateral negotiations on government procurement, both via the GPA and
via expansion of GPA membership. In addition, taking into account progress
in other fora, notably the GPA, both sides will consider how to go beyond
existing and future GPA commitments at the U.S.-EU bilateral level. This
could include enhancing the use of electronic procurement on both sides.

Services

We should continue cooperation on aviation issues, including safety,
security and liberalization, including achievement of a comprehensive
first-step U.S.-EU air services agreement as soon as possible. Such an
agreement would unlock substantial benefits by providing valuable new
business opportunities, to the benefit of U.S. and EU airlines, airports,
tourism, business links, cargo transport and consumers.

Mutual recognition of professional qualifications can facilitate the
movement of professionals, encourage greater opportunities, and foster
competition in the services sector. We encourage competent authorities on
both sides to look into the mutual recognition of professional
qualifications, notably in sectors where economic interest or need has been
substantiated by suppliers and/or users of professional services, such as
is the case in the field of architectural services.
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