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The Transatlantic Agreement between the EU and the USA will generate growth and employment





Representatives of the Directorate General for Trade of the European Commission (DG Trade), the Ministry of Economy, the US Embassy, businessmen and economists-experts discussed the Free Trade Agreement between the EU and the USA at a meeting at the Bulgarian Chamber of Commerce and Industry. „We aim at engaging the attention of the Bulgarian business, making it monitor the negotiation process, thus respond in time”, said the President of the BCCI, Mr. Tsvetan Simeonov, opening the debates, and added that information events are to be held with the participation of the US Embassy in Sofia.
 
Mr. Metin Kazak, Member of the European Parliament, who initiated the debates, presented the course of the negotiation process under the Agreement, the role of the European Parliament and the expected effects of its conclusion. It is expected that the Free Trade Agreement between the EU and the USA will bring EUR 100 billion a year for both the economies, as the EU profits exceed $ 100 billion per year while those in the USA range between $ 90 – 95 billion.
 
Ms. Diana Naydenova, Director “Foreign Economic Policy” at the Ministry of Economy and Energy emphasized the important role of the SMEs in the EU exports to third countries, adding that their share prevails in our country. She underlined that the Bulgarian SMEs need special support in order to benefit from such large trade liberalization as stipulated in the Free Trade Agreement between the EU and the USA.
 
Mr. Claes Bengtsson, Counselor to Karel de Gucht, European Commissioner for Trade defined the trade running across the Atlantic as the highway to trade growth. He explained that the Agreement affects not only the trade barriers but also the regulatory schemes and the possibilities of harmonization. He put an emphasis on one of the main objectives of the Agreement to reduce the bureaucracy to the minimum and facilitate trade transactions to the maximum. 
 
Ms. Robin Brooks, Head of Economic Department at the US Embassy in Sofia presented the advantages of the Agreement, noting that the economic relations between Europe and the USA cover 1/3 of the whole trade of goods and services and half of the world economy. She underlined that the Agreement gives new opportunities to the Bulgarian SMEs, as currently Bulgaria is looking for ways to support the small and medium sized enterprises.
 
Mr. Tsvetan Simeonov pointed out that the support to the Bulgarian SMEs is very important for them to become more competitive. Undoubtedly, the Transatlantic Agreement between the EU and the USA will be salubrious for both the economies, the President of the BCCI believes.
 
During the discussion Bulgarian entrepreneurs and foreign investors exchanged their views and had the opportunity to get competent information on matters of their interest.

10.02.2014

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