Obama wants US and EU free trade pact

13 February 2013

Barack Obama has called for the US and the European Union (EU) to enter into a free trade pact agreement.

During his annual State of the Union address delivered in the House of Representatives yesterday (12 February), President Obama urged policymakers on both sides of the Atlantic to work more closely together to strike a formal deal on trade.

America's financial relationship with the 27-member state bloc is already the largest in the world, but Mr Obama is eager to improve this further with the creation of an official import and exporting contract.

Such a deal would formally join the world's foremost economic power with four other leading nations - Germany, the UK, France and Italy.

"We will launch talks on a comprehensive Transatlantic Trade and Investment Partnership with the EU - because trade that is free and fair across the Atlantic supports millions of good-paying American jobs," the leader stated.

By Asim Shah

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