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Congressional Briefing: Resetting the Transatlantic Economic Council

October 15, 2009
Congressman Lincoln Diaz-Balart, Fran Burwell, Ambassador C. Boyden Gray

Senior officials from the Atlantic Council and the Bertelsmann Foundation briefed the House EU Caucus and other key stakeholders in preparation for the Transatlantic Economic Council (TEC) meeting in Washington on October 27.  The briefing draws from the Resetting the Transatlantic Economic Council report, a blueprint for action  designed to expand the TEC's agenda and institutional structure.

Congressman Lincoln Diaz-Balart (R-FL) and Congressman Darrell Issa (R-CA) opened the event, stressing the importance of the transatlantic trade and investment relationship and the need for strong and continuous cooperation with Europe.

The subsequent panel discussion  featured C. Boyden Gray, former U.S. Ambassador to the European Union and Council board member; David Lustig, Vice President of Global External Affairs for Unilever; Fran Burwell, Vice President and director of the Council's Transatlantic Relations Program; and Annette Heuser, Executive Director of the Bertelsmann Foundation.  The group outlined agenda items for a successful TEC meeting, including:

  • Focusing on emerging technology in energy and in the green sector, especially with cap and trade programs and energy efficiency standards
  • Guarding against protectionism, on trade and investment
  • Ensuring coordination on new financial regulation

The briefing also focused on structural changes to make the TEC a more effective institution for cooperation, including:

  • Improving engagement with the both the U.S. Congress and the European Parliament by building stronger bridges on a functional basis
  • Working together to define the building blocks of regulation to ensure a common approach and using common cost/benefit analyses for regulations
  • Increasing transparency of the TEC process by moving leadership of the institution to the U.S. Vice President’s office and the European Commission President’s office, creating a web 2.0 presence, and setting up secretariats in Washington and Brussels to do ongoing follow-up work on the TEC meetings

Read Resetting the TEC

Related Atlantic Council Economic Analysis:

Mapping the Economic and Financial Future Series:

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