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EU, U.S. leaders reaffirm transatlantic partnership
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08:41, June 11, 2008

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The leaders of the European Union (EU) and the United States reaffirmed Tuesday the transatlantic partnership they billed as the world's most important bilateral economic relationship.

"The transatlantic economy represents the most significant bilateral economic relationship in the world and has in recent years continued to grow even stronger," said the leaders in a declaration adopted at the end of an annual EU-U.S. summit.

"We welcome the work of the Transatlantic Economic Council (TEC) which we are determined to make an effective forum for advancing concrete solutions to obstacles in EU-U.S. trade and investment relations," said the declaration.

The TEC was established at last year's summit to foster economic integration on both sides of the Atlantic by adjusting regulations and enhancing coordination to expand the trans-Atlantic relationship.

During the summit, the leaders from the EU and the United States agreed to enhance cooperation to underpin stability in the international financial system, and join hands on climate change and energy security.

They also agreed to cooperate on issues including economic integration, a more open investment environment and visa-free travel between the two continents.

The summit, billed as one of the biggest events during Slovenia's six-month term as the EU presidency, marks the start of U.S. President George W. Bush's five-country Europe tour that will also take him to Germany, France, Italy and Britain.

The U.S. president, who arrived in Slovenia late Monday on his farewell tour to Europe, met on Tuesday morning with Slovenian President Danilo Tuerk and Slovenian Prime Minister Janez Jansa.

European Commission President Jose Manuel Barroso and EU foreign policy chief Javier Solana also attended the summit.


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