The Transatlantic Economic Council (TEC) is a body set up between the United States and European Union to direct economic cooperation between the two economies.
The Transatlantic Economic Council (TEC) is a body set up between the United States and European Union to direct economic cooperation between the two economies.
The TEC was established by an agreement signed on April 30, 2007 at the White House by U.S. President George W. Bush, President of the European Council Angela Merkel (also German Chancellor) and EU Commission President José Manuel Barroso.
The Council is co-chaired by an EU and a U.S. official. Currently, they are US Deputy National Security Advisor for International Economics Daleep Singh [1] and European Commissioner for Trade Valdis Dombrovskis. [2] The Council meets at least once a year, called by the chairs.
The Council is tasked with helping to meet economic partnership objectives and harmonize regulations. Other priorities include: road safety, and petrol conservation, cosmetics testing (finding alternatives to animal testing), technologies, and more cooperation. However the Council has been criticised as getting bogged down in minor details and failing to produce results. [3]
At a TEC meeting on 17 December 2010 in Washington, D.C., the leaders released a U.S.-EU Transatlantic Economic Council Joint Statement committing all parties to deeper transatlantic cooperation on secure trade and supply chain security policies. [4] This was followed by an EU / United States joint statement on supply chain security signed in Brussels on 23 June 2011. [4]
European integration is the process of industrial, economic, political, legal, social, and cultural integration of states wholly or partially in Europe, or nearby. European integration has primarily but not exclusively come about through the European Union and its policies.
A European Union Association Agreement or simply Association Agreement (AA) is a treaty between the European Union (EU), its Member States and a non-EU country that creates a framework for co-operation between them. Areas frequently covered by such agreements include the development of political, trade, social, cultural and security links.
Transatlantic relations refer to the historic, cultural, political, economic and social relations between countries on both side of the Atlantic Ocean. Sometimes it specifically means relationships between the Anglophone North American countries, and particular European countries or organizations, although other meanings are possible.
Supply chain security activities aim to enhance the security of the supply chain or value chain, the transport and logistics systems for the world's cargo and to "facilitate legitimate trade". Their objective is to combine traditional practices of supply-chain management with the security requirements driven by threats such as terrorism, piracy, and theft. A healthy and robust supply chain absent from security threats requires safeguarding against disturbances at all levels such as facilities, information flow, transportation of goods, and so on. A secure supply chain is critical for organizational performance.
Relations between the European Union and the United States began in 1953, when US diplomats visited the European Coal and Steel Community in addition to the national governments of its six founding countries. The two parties share a good relationship which is strengthened by NATO, cooperation on trade, and shared values.
International relations between the European Union (EU) and Ukraine are shaped through the Ukraine–European Union Association Agreement and the Deep and Comprehensive Free Trade Area (DCFTA). Ukraine is a priority partner within the Eastern Partnership and the European Neighbourhood Policy (ENP). The EU and Ukraine developed an increasingly close relationship, going beyond co-operation, to gradual economic integration and deepening of political co-operation. On 23 June 2022, the European Council granted Ukraine the status of a candidate for accession to the European Union.
A Transatlantic Free Trade Agreement (TAFTA) is a proposal to create a free-trade agreement covering Europe and North America, on both sides of the Atlantic Ocean. Such proposals have been made since the 1990s. Between 2013 and about 2017 an agreement between the United States and the European Union (EU) was under negotiation - the Transatlantic Trade and Investment Partnership - but it was abandoned. Canada and Mexico both have free trade agreements with both the EU and European Free Trade Association (EFTA).
Armenia and the European Union have maintained positive relations over the years. Both parties are connected through the Comprehensive and Enhanced Partnership Agreement (CEPA), which was signed in 2017. Former Armenian Foreign Minister Eduard Nalbandyan expressed confidence that the new partnership agreement would "open a new page" in EU–Armenia relations. Meanwhile, the former High Representative of the Union for Foreign Affairs and Security Policy, Federica Mogherini concluded in June 2019, that Armenia–EU relations are on an "excellent" level. Should either Georgia or Turkey, who are candidates for EU membership, accede to the EU, Armenia will border the European Union.
The Republic of Azerbaijan and the European Union (EU) have maintained a positive relationship through the years and have become more closely linked since 1991. Azerbaijan is currently part of the European Neighborhood Policy, the Eastern Partnership and the Council of Europe. The EU is the largest foreign grant donor to and investor in Azerbaijan, both in the government sector and civil society, making available over 600 million EURO of bilateral EU assistance since 1992.
Relations between Canada and the European Union (EU) and its forerunners date back to the 1950s. While the relationship is primarily an economic one, there are also matters of political cooperation. Canadians also use English and French — both European languages — as official and majority languages.
Brazil and the European Union established diplomatic relations in 1960. The European Union and Brazil have close historical, cultural, economic and political ties. At the 1st EU-Brazil summit, in 2007, Brazil entered in a strategic partnership with the European Union, strengthening their ties. This new relationship places Brazil high on the EU's political map.
Free Trade Agreement between Mexico and the European Union, is a trade agreement between the European Union and Mexico. It was signed on December 8, 1997, in the city of Brussels, under the designation "Agreement of Economic Partnership, Political Coordination and Cooperation between the United Mexican States and the European Community and its members". On October 1, 2000 the agreement came into force, and taxes applying to a large quantity of importing goods were eliminated or reduced.
Relations between the European Union and the Republic of India are currently defined by the 1994 EU–India Cooperation Agreement. The EU is a significant trade partner for India and the two sides have been attempting to negotiate a free trade deal since 2007. Indo-EU bilateral trade stood at US$104.3 billion in the financial year 2018–19.
North American integration is the process of economic and political integration in North America, largely centered on the integration of Canada, Mexico, and the United States.
The Transatlantic Trade and Investment Partnership (TTIP) was a proposed trade agreement between the European Union (EU) and the United States, with the aim of promoting trade and multilateral economic growth. According to Karel de Gucht, European Commissioner for Trade between 2010 and 2014, the TTIP would have been the largest bilateral trade initiative ever negotiated, not only because it would have involved the two largest economic areas in the world but also "because of its potential global reach in setting an example for future partners and agreements".
The United States Mission to the European Union (USEU) is the diplomatic mission of the United States to the European Union; it is based in Brussels, Belgium. The US has maintained diplomatic relations with the EU and its predecessors since 1953. The first predecessor of the current mission was the US diplomatic mission to the European Coal and Steel Community in Luxembourg, which opened in 1956. In 1961, the US Mission to the European Communities was established in Brussels, which later became the United States Mission to the European Union, upon the latter's establishment in 1993.
The Transatlantic Business Council (TABC) is an advocacy group of more than 70 multinational corporations, headquartered in the United States or Europe. A strategic programme within the TABC is the Transatlantic Business Dialogue (TABD). The TABC, with contact offices in Washington, D.C., and Brussels, considers itself the only officially recognized transatlantic voice of business on trade and investment issues.
Mikheil Janelidze is a chairman of Center for European Governance & Economy. He is a former Georgian government official who served as Vice Prime Minister (2017–2018), Minister of Foreign Affairs (2015–2018), First Deputy Minister of Foreign Affairs (2015) and Deputy Minister of Economy and Sustainable Development of Georgia (2011-2015).
New Zealand and the European Union (EU) have solid relations and increasingly see eye-to-eye on international issues. The EU-New Zealand relations are founded on a Joint Declaration on Relations and Cooperation, first agreed in 2007. It covers not just economic relations, but broader political issues and cooperation.
The Trade and Technology Council (TTC) is a transatlantic political body which serves as a diplomatic forum to coordinate technology and trade policy between the United States and European Union. It is composed of ten working groups, each focusing on specific policy areas. The formation of the TTC was first announced by US President Joe Biden and the European Commission President Ursula von der Leyen on June 15, 2021. The early agenda focused primarily on US-EU cooperation in technology, strategic sectors, market access, trade, democratic values and rule of law in the digital world, supply chain resilience, the global trade order and the EU's developing regulatory agenda like Digital Services Act, Data Act and Cloud Rules. The TTC was established under the leadership of five co-chairs – European Commission Executive Vice-President Margrethe Vestager, European Commission Executive Vice-President Valdis Dombrovskis, US Secretary of State Antony Blinken, US Secretary of Commerce Gina Raimondo, and US Trade Representative Katherine Tai.