DAVOS, Switzerland — German chancellor Angela Merkel said Wednesday there are many possibilities of creating a free trade area between the U.S. and the European Union.
Merkel told nearly 2,000 business and political leaders attending the opening of the annual Davos World Economic Forum that with the global Doha trade talks in limbo, one way to secure more free trade is to move forward in entering bilateral agreements.
“Although I do not consider this to be the best course of action, I think also across the Atlantic we have many possibilities of creating a free trade area that we don’t have,” she said. “We have numerous obstacles that hinder us from more cooperation in the non-tariff area: services, investments, technical standards and procurement, to mention just a few.”
Related Articles
But she also indicated there was an interest on both sides of the Atlantic.
You May Also Like
“I noticed from both the European and American side a willingness to work together more,” Merkel said.
Thomas Donohue, chairman and chief executive officer of the U.S. Chamber of Commerce, said, “I think there’s an exploding interest in it,” adding that heads of government, associations and business leaders in Europe and the U.S. were beginning to say “good idea.”
He said he expected the initiative to pick up momentum in the coming months.
“I am encouraged and we’re going to push it very hard,” said Donohue. “I don’t know if the White House is fully behind it yet, but we’ll get there.”
A U.S. official, speaking on the condition of nonattribution, said, “The new high-level panel launched by President Obama and EU leaders after our summit last November will be examining all options for strengthening the U.S.-EU trade relationship.”