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International affairs

EU-USA - Transatlantic Economic Council

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The Transatlantic  Economic Council is a political body to oversee and accelerate government-to-government cooperation with the aim of advancing economic integration between the European Union and the United States of America.

At the EU-US Summit on 30 April 2007, Commission President Barroso, German Chancellor Merkel and US President Bush signed the " Framework for Advancing Transatlantic Economic Integration between the United States of America and the European Union pdf - 178 KB [178 KB] ".

Key elements of this framework were the adoption of a work programme of cooperation, and the establishment of the TEC to oversee, guide and accelerate the implementation of this work programme.

The Vice-President for Enterprise and Industry chaired the Transatlantic Economic Council (TEC) from its inception in 2007 until 2009.

Currentlly, the TEC is chaired by European Commissioner Karel De Gucht and Michael Froman, deputy assistant to the U.S. president and deputy national security adviser for international economic affairs.

The co-chairs jointly developed a set of working arrangements   [24 KB] that should make this Council a useful and effective tool to attain their common objectives.

The Transatlantic Economic Council brings together those Members of the European Commission and US Cabinet Members who carry the political responsibility for the policy areas covered by the Framework.

The Summit leaders have tasked the TEC to convene a Group of Advisers, consisting of the Co-chairs of the three existing transatlantic dialogues, the Transatlantic Legislators' Dialogue, Trans Atlantic Consumer Dialogue and TransAtlantic Business Dialogue.

The Group of Advisers is mandated to reach out to the broader stakeholder community and to give a voice to their concerns.

First meeting of the TEC

The first meeting of the TEC was held on 9 November 2007 in Washington D.C.

Second meeting of the TEC

The second meeting of the TEC was held in Brussels on 13 May 2008. The EU-US High-Level Regulatory Cooperation Forum submitted the following three documents to the TEC:

The TEC co-chairs reported on the TEC's progress to the EU-US Summit in Brdo, Slovenia, on 10 June 2008.

Progress Report pdf - 64 KB [64 KB]

Third meeting of the TEC

The third meeting of the TEC was held in Washington D.C. on 12 December 2008.

The EU-US High-Level Regulatory Cooperation Forum submitted the following two reports to the TEC:

Fourth meeting of the TEC

The fourth meeting of the TEC was held in Washington D.C. on 27 October 2009.

The EU-US High-Level Regulatory Cooperation Forum has met twice prior to the TEC:

Fifth meeting of the TEC

The fifth meeting of the TEC was held in Washington D.C. on 17 December 2010.

Areas of cooperation

Regulatory cooperation

Intellectual Property Rights

Secure Trade

Financial Markets

Innovation and Technology

Investment

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