The USA and Europe must act as strong partners to overcome shared challenges in global commerce and climate protection

AmCham Germany, BDI und TABD on transatlantic economic relations

(PresseBox) ( Frankfurt am Main, )
Economic cooperation between the United States, Europe and Germany can and must be deepened in the future. This can only be achieved if barriers to trade are dismantled. It is important to define clear and measurable goals for barrierfree trade between these regions. Shortterm successes send positive signals. An open, accessible transatlantic market would noticeably strengthen the competitiveness of the United States and Europe and could lead to a 3% increase in GDP. The US is the largest market for German products outside the EU. Removing obstacles to market entry and the further integration of the transatlantic economic area build important foundations for stronger economic growth. "Businesses need concrete results to come out of the Transatlantic Economic Council. The new German government, together with partners in Brussels and in Washington, will champion this effort," said State Secretary Dr. Bernd Pfaffenbach (Federal Ministry of Economics and Technology). Further liberalization of world trade would also help jumpstart the global economy. As the two largest economic regions in the world, the EU and US should do everything in their power to bring the Doha Round to a successful conclusion.

Formulating binding commitments for the climate protection conference in Copenhagen

Europe and the US must work as strong partners to advance negotiations in Copenhagen. Uncontrolled increases in emissions must be prevented. The German government should continue to realize its leadership role both within and outside the EU on issues of climate protection and the development of environmental technologies.
In Copenhagen, concrete commitments and clear goals and criteria for an international agreement must be identified.
All nations, from the leading industrial countries to the emerging developing nations, must be involved.
"We need a fair distribution of costs and emission reduction requirements. Without these, we would lose twice: the global climate and jobs in Europe!" says BDI Vice President and TABD Co-Chair Jürgen R. Thumann. The international community must unite in favor of a globallyharmonized and marketoriented system with a clear political framework.

Transparent Financial Markets in the Future as a Result of the Crisis - Economics in Schools

The economic crisis has demonstrated that we need better risk management and more market transparency. This requires a transparent infrastructure for trade and transactions. Central counterparts should work to identify and avoid risks and, by following clear procedures, should provide all parties with access to the necessary information.

Additionally, reforms must aim to bring new energy to global cash flows so that the economy can be supplied with adequate liquidity. "We must not overshoot our goal and regulate the markets to death," remarked Fred B. Irwin, President of the American Chamber of Commerce in Germany (abbreviated AmCham Germany). "Also, finances and economics should have a more prominent position in school curriculum." Following the crisis, other challenges will come back into focus. Market participants will fight for their customers in all markets with innovative offers and instruments.

The Transatlantic Business Conference:

On November 12, 2009, the third annual Transatlantic Business Conference takes place in Frankfurt am Main.
The event was organized by the American Chamber of Commerce in Germany and the F.A.Z.-Institut in cooperation with the Federation of German Industry (BDI) and the TransAtlantic Business Dialogue (TABD). With speeches, podium discussions and practiceoriented workshops on a variety of current issues facing German-American economic relations, the event offers an opportunity for exchange with experts.
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