Washington, DC - Senior officials from the U.S. Department of State and the European Commission gathered on February 18to review progress, discuss new opportunities, and take steps to re-energize joint collaboration under the Transatlantic Economic Council (TEC), which brings together officials from external trade, regulatory, commercial and scientific agencies in the EU and the United States Government to support innovation and growth.
Catherine Novelli, Under Secretary of State for Economic Growth, Energy, and the Environment, and Jean-Luc Demarty, Director General of Trade for the European Union, led the effort.
The TEC has succeeded in fostering cooperation in a wide range of emerging sectors, including:
- Developing common standards, test procedures and tools to promote universal compatibility and interoperability between electric vehicles, e-vehicles supply equipment, and the electric power supply infrastructure;
- Creating a common education program to support jobs in the health-IT workforce; and
- Stimulating innovation in the sustainable use of bio-based products.
TEC participants also regularly discuss joint approaches to ensuring fair access to and responsible use of critical raw materials, and have promoted opportunities for small and medium enterprises (SMEs) to increase exports.
Under Secretary Novelli and Director General Demarty intend to build on the success of the TEC and apply lessons learned to explore new areas for cooperation. They will discuss specific proposals at their next meeting later this year. A full report of the meeting will be published shortly by DG TRADE and the U.S. Department of State.
The TEC will continue to operate in parallel with the ongoing Transatlantic Trade & Investment Partnership (TTIP) negotiations.
Background
U.S. and EU leaders first set up the Transatlantic Economic Council (TEC) in 2007, to help guide and spur forward economic cooperation between them.
Since then, the TEC has enabled the United States and the EU to share and benefit from each other's know-how and experience in a wide range of industries, many of them high-tech and science-based.
For example, U.S. and EU scientists and regulators have been able to work together on research into charging devices and smart grids for electric vehicles – leading to a common testing method for these systems.
In 2011, the TEC launched the High Level Working Group on Jobs and Growth. This led to the decision to start negotiations for the Transatlantic Trade & Investment Partnership (TTIP), which are now well underway.
For further information, please contact Kim Tuminaro at (202) 647-1688.
