The EU-US Trade and Technology Council should seize the moment to play a leading role in trade, technology and innovation.

At its July plenary meeting, the European Economic and Social Committee (EESC) said that the new Trade and Technology Council (CTC) could be an innovative tool for the EU and the US to work together to build a safer and more prosperous world based on the principles of sustainable development and democratic values. The Council is conceived as a participatory process and therefore must demonstrate in practice that it is transparent and willing to engage with civil society and stakeholders.

Created a year ago at the EU-US Summit held in Brussels on June 15, 2021, the Trade and Technology Council must take the lead in protecting democratic values ​​and rules-based trade during this time of geopolitical upheaval. This can be the core of a program to renew partnerships through reliable channels of cooperation.

Christa SchwengEESC President said: The Trade and Technology Council is a new form of innovative and collaborative collaboration. Its main goal should be to explore how trade and technology can improve the well-being of our societies. Organized civil society on both sides of the Atlantic has an important role to play in CCTs. This must take place in a transparent and inclusive environment..

Europe and statesUnited support Still relations economic bilateral most integrated to World, representing in half GDP Global and third belonging flow commercial Global. Nonetheless, economist as well as writer Fredrik Erickson, the guest in infiltrate in plenary sessionIt has emphasize what them of them continents we in reject economic relativewhat kind means what them go in GDP Global decreases, then what other markets know a growth more fast.

Mr. Erickson argued that this initiative represents a new opportunity for the United States and Europe to influence the global economy by speaking with one voice and seeking to cooperate with countries that share the same economic and political values. Both sides agree on how the world is changing and what this means for both the EU and the US as they face a world that could be dominated by regimes that do not share democratic values.Mr. Erickson pointed out.

In his proactive opinion on the subject: New EU-US Trade and Technology Council in Action: Business, Worker and Consumer Priorities and Precautions to TakeThe EESC highlights the CTC’s priorities, which are essentially the need to create a common regulatory framework and respond to major market disruptions by guaranteeing global value and supply chains, energy supply, raw materials and food security.

Timo VuoriEESC member and opinion rapporteur stressed the role of transparency and strong commitment from stakeholders on both sides of the Atlantic, insisting on the need for good collaboration. The cooperation agreement between the EU and the US should provide solutions in the short and long term to improve the terms of bilateral and international trade. Otherwise, TSS may lose its momentum and cease to be an effective platform for solving practical problems.Mr Vuori said.

Tanya Buzek, EESC Member and Opinion Co-Rapporteur, welcomed the recent establishment of the Tripartite Dialogue on Trade and Labor, creating a formal channel for social partners on both sides of the Atlantic to inform the CPC process and influence transatlantic trade and investment relations. Using technology to detect forced labor can show the value of CTC actions. Mto me Buzek also added that the Council should be independent of political cycles, working to become a stable, long-term democratic institutional platform for the transatlantic partnership.