Leaders from the European Union and the United States meeting in Lisbon on 20 November reaffirmed their close partnership in the main areas of joint collaboration which can be a resource to face shared upcoming challenges. Common values and political experience as well as a deep economic interdependence are the base for cooperation in the main areas addressed during the Summit.

Discussions at the EU-US Summit held in Lisbon on 20 November focused over three main areas of cooperation which include ensuring strong, balanced and sustainable economic growth to create jobs also in the new emerging fields; meeting global challenges such as climate change and international development and, finally, strengthening the security of citizens from both sides of the Atlantic.

Trade, growth and Economic Cooperation

Both delegations discussed over the results of the G20 Summit in Seoul, and the contribution the European Union and the United States can make to securing a sustainable and balanced recovery, including through fiscal consolidation where necessary, and to creating jobs through structural and financial market reform. The most effective way to achieve these aims is to promote innovation, streamline regulation, and eliminate barriers to trade and investment, bringing benefits to business, workers, and consumers in both markets.

The European Union and the United States reaffirmed their rejection of commercial protectionism and reiterated their commitment to bring the Doha Development Agenda to a successful conclusion. 2011 is a critical window of opportunity and that engagement among all negotiators must intensify and expand to complete an agreement that will expand trade and open markets.

Climate Change and Development issues

On climate change, delegations emphasized that the commitments made in Copenhagen last December which are contained in the Copenhagen Accord should be the base to promote a positive outcome at the Cancun conference. They also reaffirmed their commitment to collaboration and coordinated action on development, recognizing that shared goals and objectives are aligned as never before. World’s two leading donors of development assistance agreed on the need to maximize the effectiveness and impact of aid and avoid duplication of efforts. Transparency and accountability will focus EU-U.S. Dialogue on Development which will begin the implementation in a number of mutually agreed countries under partner country leadership, ahead of the Fourth High Level Forum on Aid Effectiveness in November 2011.

EU-US Cooperation in Security

Recognising the need to frame and implement integrated strategies on security and development, the European Union and the United States reaffirmed their commitment to strengthen collaboration in this area, covering conflict prevention, crisis response, and long-term development, and welcomed the deepening partnership on a wide range of trans-national security issues.

Building on shared cooperation on security matters such as the successful negotiation earlier this year of an agreement on the Terrorist Finance Tracking Programme, both parties agreed on this Summit to establish the EU-U.S.Working Group on Cyber-security and Cyber-crime which will address a number of specific priority areas and will report progress within a year.

Aiming to facilitate transatlantic travel for citizens while pursuing the vital task of maintaining security, the EU and US now look forward to making good progress in the forthcoming negotiations on a Passenger Name Record agreement for which the Commission recently agreed on the general principles they should governed by.