[Congressional Record Volume 153, Number 41 (Friday, March 9, 2007)]
[Extensions of Remarks]
[Page E515]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                BDI-IMDI CONGRESSIONAL DELEGATION SPEECH

                                 ______
                                 

                          HON. JOSEPH CROWLEY

                              of new york

                    in the house of representatives

                         Friday, March 9, 2007

  Mr. CROWLEY. Madam Speaker, on February 20, 2007, I gave the 
following speech in Hamburg, Germany:

       The American and European economies are deeply rooted and 
     complimentary. In 2006, the transatlantic commerce--trade, 
     investment and local business by transatlantic subsidiaries--
     representing three trillion dollars in business and providing 
     some 14 million jobs on both sides of the Atlantic.
       We recognize that the U.S. Administration and Europe have 
     developed numerous plans to eliminate barriers between the 
     two continents, however much work remains if we are to 
     achieve a truly barrier free transatlantic market.
       Chancellor Merkel has rightly pointed to the need for a new 
     transatlantic initiative as the best means of expanding 
     economic opportunity and enhancing competition in the global 
     economy. We support the call for a new Transatlantic 
     Partnership based on the foundation of our shared values to 
     further deepen our economic ties and to eliminate trade 
     barriers that still exist.
       Previous attempts by both U.S. Administrations and the 
     European Commission to develop plans to enhance transatlantic 
     cooperation have resulted in some favorable results, but a 
     higher-level commitment is in order to more effectively 
     dismantle the barriers that limit the economic and trade 
     opportunities in both continents.
       A mutual pledge to addressing the barriers that inhibit 
     trade and commitment to strengthening competitiveness and 
     growth in the transatlantic economy is timely. The BDI-IMDI 
     Congressional Roundtable discussion underscores the need for 
     a transatlantic framework agreement in which the governments 
     and legislatures on both sides of the Atlantic commit to 
     addressing these issues.
       We applaud Chancellor Merkel for giving priority attention 
     to the Transatlantic Partnership in her position as President 
     of the European Union and support placing the item on the 
     next EU-U.S. Economic Summit Agenda and encourage our 
     respective governments to further cooperation in this area.

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