US, EU consider world’s biggest free trade pact

DHAKA: After years of battling each other on trade issues, US and European officials are contemplating a dramatic change in direction: joining together in what could be the world’s largest free-trade pact in an attempt to boost their struggling economies.

Discussions are in the most preliminary of stages and there would be significant obstacles to overcome, including sharp differences on agriculture, food safety and climate change legislation.

Still, top European Union and US officials have said they want to see it happen. And America’s main labour federation, often the biggest opponent to US trade pacts, says it wouldn’t stand in the way, reports The Straits Times.

Last month, US Secretary of State Hillary Clinton signalled the Obama administration’s interest during a speech on trans-Atlantic relations.

BDST: 1710 HRS, DEC 11, 2012
Edited by Robab Rosan, Cultural Affairs Editor, eic@banglanews24.com