Government Office of Sweden | Friday, February 17, 2012

Ewa Björling launches initiative for free trade with US

Minister for Trade Ewa Björling is presenting the conclusions of a new report by the Transatlantic Task Force on Trade and Investment. The report proposes how an open market for trade and investments could be created between the EU and the US.

"An open transatlantic market would particularly benefit Sweden’s prosperity. The United States is Sweden’s most important trade partner outside Europe. Free trade between the EU and the US would provide a much-needed boost to the world economy," says Dr Björling.

Dr Björling, together with former US congressman Jim Kolbe, has chaired the working group Transatlantic Task Force on Trade and Investment, in which leading experts and business representatives from both the EU and the US have taken part. The aim of the working group was to come up with concrete proposals for how to bring about closer economic cooperation between the EU and the US, with a focus on trade and investment.

"Despite the acute problems in both the EU and the US, governments and decision-makers must have the courage to ask how we lay the foundation for the jobs and growth of tomorrow. Free trade is one of the sharpest tools for strengthening long-term growth," says Dr Björling.

Trade between the EU and the US represents all of 33 per cent of the world’s total trade in goods, and 44 per cent of trade in services.

The conclusions of the report will be presented at seminars in Brussels, Paris, Berlin, London and Washington DC.