BETA


2008/2527(RSP) Resolution on the Transatlantic Economic Council

Progress: Procedure completed

Legal Basis:
RoP 123-p2

Events

2008/07/07
   EC - Commission response to text adopted in plenary
Documents
2008/06/12
   EC - Commission response to text adopted in plenary
Documents
2008/05/08
   EP - Results of vote in Parliament
2008/05/08
   EP - Decision by Parliament, 1st reading/single reading
Details

Following the debate held in plenary on 7 May 2008, the European Parliament adopted a resolution on the Transatlantic Economic Council. The Text had been tabled for consideration in plenary as a joint resolution by the EPP-ED, PES, ALDE, UEN and Greens/ALE groups.

Members underline that a close transatlantic partnership is a vital instrument for shaping globalisation in the interests of common values and an equitable political and economic global order. They strongly support the process of strengthening transatlantic economic integration started at the 2007 summit with the adoption of the Framework for Advancing Transatlantic Economic Integration between the EU and the US and the establishment of the Transatlantic Economic Council (TEC), which is to oversee and accelerate the efforts outlined in the Framework. Parliament takes the view that the results achieved by the TEC since its establishment demonstrate that the transatlantic market cannot be built on administrative work only, but that in order to attain this goal, strong and continuous political guidance is needed.

Members go on to examine several aspects of the TEC that need to be addressed:

Financial services: Parliament referred to the application of the international accounting standards, emphasising the right for EU issuers to use in any third country International Financial Reporting Standards, (IFRS) as endorsed by the EU. It believes that mutual recognition of securities markets between the US and the EU would improve the efficiency of the transatlantic market by facilitating the access of the EU and the US to a broader and deeper market. It underlines, however, that such a project must be a result of a bilateral agreement, that a framework agreement between the US and the EU which takes full account of EU legislation on supervision of financial markets should be concluded, and that the Commission should discourage the conclusion of bilateral agreements between the Member States and the US, as this could endanger the level playing field in the EU. Safeguarding financial stability is of the utmost importance, and enhancing cooperation between supervisory authorities in the US and the EU is vital. Parliament recalls the importance of a coordinated approach when developing or modifying global rules for internationally active financial market players and believes that implementation of Basel II in the US is vital for the preservation of a global level playing field.

EU-US trade and regulatory cooperation: in pursuing the goal of creating uniform standards for trade and investment, a high level of social, environmental and health standards must be guaranteed. A variety of so-called non-tariff barriers to trade and investment is rooted in activities of legislative bodies aimed at achieving social, health-related, cultural or environmental objectives, and hence must not be removed without a legislative act. Parliament points out the crucial role of Parliament and the US Congress in controlling the process of standard alignment and the removal of barriers to trade and investment. It also stresses that the safety of imported products should also be a priority within the TEC, and proposes that the TEC work on a binding cooperation instrument which would structure and facilitate the sharing of information on product safety and the development of a common programme of cooperative actions. The Commission and Council are asked to strengthen cooperation between EU and US customs and market surveillance authorities, in order to ensure that controls at external borders are able to prevent dangerous products, in particular dangerous toys, from reaching consumers.

The Commission is also asked to : i) to negotiate common global standards, such as common automobile safety standards; ii) to pursue the formal adoption of procedures for the mutual recognition of declarations of conformity for products subject to mandatory third-party testing, in particular for Information and Communications Technology (ICT) and electrical equipment; iii) to strengthen cooperation between the EU and the US on the Globally Harmonised System of Classification and Labelling of Chemicals (GHS); iv) to take the initiative, in close cooperation with Parliament, to elaborate transatlantic data protection principles together with the US Federal Trade Commission.

Parliament notes that secure trade is particularly important in an ever more closely integrated global economy, but believes that the proposal to inspect 100% of shipping containers coming from overseas as a measure to avert terrorist threats is unnecessary and unrealistic. It calls upon Congress to withdraw this proposal, as it is convinced that the 'Container Security Initiative 'is a sufficient measure to guarantee the security of international maritime transport.

Agricultural issues: Members call for an urgent solution to the ongoing discussions on the ban on imports into the EU of US poultry which has undergone pathogen reduction treatment. They acknowledge the considerable investments made by the European poultry sector, in accordance with European legislation, to reduce salmonella contamination through a whole chain approach. Any possible solution should not lead to distortion of competition. Parliament believes that the Community's decision to prohibit the import of hormone-treated beef was fully justified on the basis of scientific evidence, and calls on the US to lift its sanctions on European goods without further delay. It emphasises the importance of the single authorisation procedure for all food and feed containing genetically modified organisms (GMOs) in accordance with the precautionary principle.

Cooperation regarding energy, industry and science: the resolution calls for strategic transatlantic cooperation regarding energy, industry and science policies to be increased. It underlines the need for enhanced EU-US regulatory and scientific cooperation on biofuels and biomass, promoting alternative and sustainable fuel sources for the transportation sector on a joint basis.

The World Trade Organization (WTO) and the Doha Development Agenda: Parliament calls on the Commission to ensure that the TEC is helpful in achieving a positive conclusion of the Doha Development Agenda. It asks the Commission to evaluate whether a bilateral trade dispute settlement procedure could become a topic of interest for the TEC.. The TEC is asked actively to support the Doha declaration on the TRIPS Agreement facilitating access to life-saving medicines for those countries which have no production capacity for pharmaceutical products. Parliament calls on the Commission to raise the issue of the US policy of including in bilateral agreements negotiated with developing countries clauses under which those countries renounce the use of the provision of the Doha declaration on the TRIPS Agreement which allows them to produce and import generic drugs to tackle major public health problems. Lastly, it is an important task for the European side in the TEC to convince the EU's transatlantic partners of the need for a legally binding post-Kyoto regime on greenhouse gas emissions by 2012.

Future Transatlantic Legislators' Dialogue (TLD) agenda: Parliament stresses the need to reflect within the TLD on a WTO post-Doha agenda, including WTO reform, and to discuss human rights and environmental and social rights clauses in bilateral trade agreements. Members reiterate their desire to strengthen dialogue between both parliaments, and call for their early involvement in particular as regards any future rules developed by global self-regulatory bodies in order to address, at an early stage, political accountability issues.

Documents
2008/05/08
   EP - End of procedure in Parliament
2008/05/07
   EP - Motion for a resolution
Documents
2008/05/07
   EP - Motion for a resolution
Documents
2008/05/07
   EP - Motion for a resolution
Documents
2008/05/07
   EP - Motion for a resolution
Documents
2008/05/07
   EP - Motion for a resolution
Documents
2008/05/07
   Joint motion for resolution
Documents
2008/05/07
   EP - Debate in Parliament
Details

The House held a debate, following on the Commission statement, on the Transatlantic Economic Council.

A motion for a resolution winding up this debate was due to be put to the vote on 8 May 2008.

Documents

Activities

Votes

RC B6-0209/2008 - Conseil économique transatlantique - am. 1

2008/05/08 Outcome: +: 374, -: 233, 0: 9
PL IT DE IE CZ LT BG LV SE FR SI HU SK NL FI RO DK BE ES ?? GB EE CY EL MT LU AT PT
Total
45
58
77
11
19
10
15
8
16
57
7
19
12
24
12
17
12
20
42
2
63
5
4
20
4
4
16
17
icon: PPE-DE PPE-DE
229

Lithuania PPE-DE

1

Denmark PPE-DE

1

PPE-DE

For (1)

1

Estonia PPE-DE

For (1)

1

Cyprus PPE-DE

1

Malta PPE-DE

2

Luxembourg PPE-DE

2
icon: ALDE ALDE
76

Ireland ALDE

For (1)

1

Latvia ALDE

1

Sweden ALDE

2

Slovenia ALDE

2

Hungary ALDE

1

Spain ALDE

1

Estonia ALDE

2

Cyprus ALDE

For (1)

1

Austria ALDE

1
icon: UEN UEN
36

Lithuania UEN

2

Denmark UEN

For (1)

1
icon: NI NI
22

Poland NI

1

Italy NI

2

Czechia NI

1

Slovakia NI

Abstain (1)

1

Belgium NI

2

United Kingdom NI

Against (1)

6

Austria NI

For (1)

Against (1)

2
icon: IND/DEM IND/DEM
18

Poland IND/DEM

3

Ireland IND/DEM

For (1)

1

Czechia IND/DEM

1

Sweden IND/DEM

2

Netherlands IND/DEM

2

IND/DEM

1

Greece IND/DEM

1
icon: Verts/ALE Verts/ALE
32

Italy Verts/ALE

2

Latvia Verts/ALE

Against (1)

1

Sweden Verts/ALE

For (1)

1

Finland Verts/ALE

Against (1)

1

Belgium Verts/ALE

2

Spain Verts/ALE

2

United Kingdom Verts/ALE

For (1)

4

Luxembourg Verts/ALE

Against (1)

1

Austria Verts/ALE

2
icon: GUE/NGL GUE/NGL
32

Czechia GUE/NGL

3

Sweden GUE/NGL

Against (1)

1

Netherlands GUE/NGL

2

Finland GUE/NGL

Against (1)

1

Denmark GUE/NGL

1

Spain GUE/NGL

Against (1)

1

Cyprus GUE/NGL

2

Greece GUE/NGL

2

Portugal GUE/NGL

3
icon: PSE PSE
171

Czechia PSE

2

Lithuania PSE

Against (1)

1

Slovenia PSE

Against (1)

1

Slovakia PSE

3

Finland PSE

For (1)

3

Estonia PSE

2

Malta PSE

2

Luxembourg PSE

Against (1)

1

RC B6-0209/2008 - Conseil économique transatlantique - am. 3

2008/05/08 Outcome: +: 378, -: 244, 0: 10
PL IT DE IE CZ LT LV BG FI SI HU SK RO SE NL EL BE EE ES GB LU ?? CY MT DK AT FR PT
Total
45
58
81
11
19
10
8
16
12
7
19
12
18
16
25
22
20
5
44
65
3
1
4
4
13
16
58
20
icon: PPE-DE PPE-DE
237

Lithuania PPE-DE

1

Estonia PPE-DE

For (1)

1

Luxembourg PPE-DE

2

PPE-DE

For (1)

1

Cyprus PPE-DE

1

Malta PPE-DE

2

Denmark PPE-DE

1
icon: ALDE ALDE
79

Ireland ALDE

For (1)

1

Latvia ALDE

1

Slovenia ALDE

2

Hungary ALDE

1

Sweden ALDE

2

Estonia ALDE

2

Cyprus ALDE

For (1)

1

Austria ALDE

1
icon: UEN UEN
36

Lithuania UEN

2

Denmark UEN

For (1)

1
icon: NI NI
21

Poland NI

1

Italy NI

2

Czechia NI

1

Slovakia NI

Abstain (1)

1

Belgium NI

For (1)

Abstain (1)

2

United Kingdom NI

For (1)

Against (2)

5

Austria NI

Against (1)

Abstain (1)

2
4
icon: IND/DEM IND/DEM
17

Poland IND/DEM

3

Ireland IND/DEM

For (1)

1

Czechia IND/DEM

1

Sweden IND/DEM

2

Netherlands IND/DEM

2

Greece IND/DEM

1
icon: GUE/NGL GUE/NGL
32

Czechia GUE/NGL

3

Finland GUE/NGL

Against (1)

1

Sweden GUE/NGL

Against (1)

1

Netherlands GUE/NGL

2

Greece GUE/NGL

2

Spain GUE/NGL

Against (1)

1

Cyprus GUE/NGL

2

Denmark GUE/NGL

1

Portugal GUE/NGL

3
icon: Verts/ALE Verts/ALE
34

Italy Verts/ALE

2

Latvia Verts/ALE

Against (1)

1

Sweden Verts/ALE

Against (1)

1

Netherlands Verts/ALE

3

Belgium Verts/ALE

2

United Kingdom Verts/ALE

4

Denmark Verts/ALE

Against (1)

1

Austria Verts/ALE

2
icon: PSE PSE
176

Czechia PSE

Against (1)

1

Lithuania PSE

Against (1)

1

Finland PSE

For (1)

3

Slovenia PSE

Against (1)

1

Slovakia PSE

3

Estonia PSE

For (1)

Against (1)

2

Luxembourg PSE

Against (1)

1

Malta PSE

2

History

(these mark the time of scraping, not the official date of the change)

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New
http://www.europarl.europa.eu/doceo/document/RC-6-2008-0209_EN.html
docs/6/body
EC
docs/7/body
EC
events/2/docs/0/url
Old
http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P6-TA-2008-192
New
http://www.europarl.europa.eu/doceo/document/TA-6-2008-0192_EN.html
activities
  • date: 2008-05-07T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20080507&type=CRE type: Debate in Parliament title: Debate in Parliament body: EP type: Debate in Parliament
  • date: 2008-05-08T00:00:00 docs: url: http://www.europarl.europa.eu/oeil/popups/sda.do?id=15023&l=en type: Results of vote in Parliament title: Results of vote in Parliament url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P6-TA-2008-192 type: Decision by Parliament, 1st reading/single reading title: T6-0192/2008 body: EP type: Results of vote in Parliament
commission
  • body: EC dg: Internal Market, Industry, Entrepreneurship and SMEs commissioner: VERHEUGEN Günter
committees
    docs
    • date: 2008-05-07T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=B6-2008-209&language=EN title: B6-0209/2008 type: Motion for a resolution body: EP
    • date: 2008-05-07T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=B6-2008-210&language=EN title: B6-0210/2008 type: Motion for a resolution body: EP
    • date: 2008-05-07T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=B6-2008-211&language=EN title: B6-0211/2008 type: Motion for a resolution body: EP
    • date: 2008-05-07T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=B6-2008-212&language=EN title: B6-0212/2008 type: Motion for a resolution body: EP
    • date: 2008-05-07T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=B6-2008-214&language=EN title: B6-0214/2008 type: Motion for a resolution body: EP
    • date: 2008-05-07T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=P6-RC-2008-209&language=EN title: RC-B6-0209/2008 type: Joint motion for resolution
    • date: 2008-06-12T00:00:00 docs: url: /oeil/spdoc.do?i=15023&j=1&l=en title: SP(2008)3593/2 type: Commission response to text adopted in plenary
    • date: 2008-07-07T00:00:00 docs: url: /oeil/spdoc.do?i=15023&j=0&l=en title: SP(2008)3956 type: Commission response to text adopted in plenary
    events
    • date: 2008-05-07T00:00:00 type: Debate in Parliament body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20080507&type=CRE title: Debate in Parliament summary: The House held a debate, following on the Commission statement, on the Transatlantic Economic Council. A motion for a resolution winding up this debate was due to be put to the vote on 8 May 2008.
    • date: 2008-05-08T00:00:00 type: Results of vote in Parliament body: EP docs: url: https://oeil.secure.europarl.europa.eu/oeil/popups/sda.do?id=15023&l=en title: Results of vote in Parliament
    • date: 2008-05-08T00:00:00 type: Decision by Parliament, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P6-TA-2008-192 title: T6-0192/2008 summary: Following the debate held in plenary on 7 May 2008, the European Parliament adopted a resolution on the Transatlantic Economic Council. The Text had been tabled for consideration in plenary as a joint resolution by the EPP-ED, PES, ALDE, UEN and Greens/ALE groups. Members underline that a close transatlantic partnership is a vital instrument for shaping globalisation in the interests of common values and an equitable political and economic global order. They strongly support the process of strengthening transatlantic economic integration started at the 2007 summit with the adoption of the Framework for Advancing Transatlantic Economic Integration between the EU and the US and the establishment of the Transatlantic Economic Council (TEC), which is to oversee and accelerate the efforts outlined in the Framework. Parliament takes the view that the results achieved by the TEC since its establishment demonstrate that the transatlantic market cannot be built on administrative work only, but that in order to attain this goal, strong and continuous political guidance is needed. Members go on to examine several aspects of the TEC that need to be addressed: Financial services: Parliament referred to the application of the international accounting standards, emphasising the right for EU issuers to use in any third country International Financial Reporting Standards, (IFRS) as endorsed by the EU. It believes that mutual recognition of securities markets between the US and the EU would improve the efficiency of the transatlantic market by facilitating the access of the EU and the US to a broader and deeper market. It underlines, however, that such a project must be a result of a bilateral agreement, that a framework agreement between the US and the EU which takes full account of EU legislation on supervision of financial markets should be concluded, and that the Commission should discourage the conclusion of bilateral agreements between the Member States and the US, as this could endanger the level playing field in the EU. Safeguarding financial stability is of the utmost importance, and enhancing cooperation between supervisory authorities in the US and the EU is vital. Parliament recalls the importance of a coordinated approach when developing or modifying global rules for internationally active financial market players and believes that implementation of Basel II in the US is vital for the preservation of a global level playing field. EU-US trade and regulatory cooperation: in pursuing the goal of creating uniform standards for trade and investment, a high level of social, environmental and health standards must be guaranteed. A variety of so-called non-tariff barriers to trade and investment is rooted in activities of legislative bodies aimed at achieving social, health-related, cultural or environmental objectives, and hence must not be removed without a legislative act. Parliament points out the crucial role of Parliament and the US Congress in controlling the process of standard alignment and the removal of barriers to trade and investment. It also stresses that the safety of imported products should also be a priority within the TEC, and proposes that the TEC work on a binding cooperation instrument which would structure and facilitate the sharing of information on product safety and the development of a common programme of cooperative actions. The Commission and Council are asked to strengthen cooperation between EU and US customs and market surveillance authorities, in order to ensure that controls at external borders are able to prevent dangerous products, in particular dangerous toys, from reaching consumers. The Commission is also asked to : i) to negotiate common global standards, such as common automobile safety standards; ii) to pursue the formal adoption of procedures for the mutual recognition of declarations of conformity for products subject to mandatory third-party testing, in particular for Information and Communications Technology (ICT) and electrical equipment; iii) to strengthen cooperation between the EU and the US on the Globally Harmonised System of Classification and Labelling of Chemicals (GHS); iv) to take the initiative, in close cooperation with Parliament, to elaborate transatlantic data protection principles together with the US Federal Trade Commission. Parliament notes that secure trade is particularly important in an ever more closely integrated global economy, but believes that the proposal to inspect 100% of shipping containers coming from overseas as a measure to avert terrorist threats is unnecessary and unrealistic. It calls upon Congress to withdraw this proposal, as it is convinced that the 'Container Security Initiative 'is a sufficient measure to guarantee the security of international maritime transport. Agricultural issues: Members call for an urgent solution to the ongoing discussions on the ban on imports into the EU of US poultry which has undergone pathogen reduction treatment. They acknowledge the considerable investments made by the European poultry sector, in accordance with European legislation, to reduce salmonella contamination through a whole chain approach. Any possible solution should not lead to distortion of competition. Parliament believes that the Community's decision to prohibit the import of hormone-treated beef was fully justified on the basis of scientific evidence, and calls on the US to lift its sanctions on European goods without further delay. It emphasises the importance of the single authorisation procedure for all food and feed containing genetically modified organisms (GMOs) in accordance with the precautionary principle. Cooperation regarding energy, industry and science: the resolution calls for strategic transatlantic cooperation regarding energy, industry and science policies to be increased. It underlines the need for enhanced EU-US regulatory and scientific cooperation on biofuels and biomass, promoting alternative and sustainable fuel sources for the transportation sector on a joint basis. The World Trade Organization (WTO) and the Doha Development Agenda: Parliament calls on the Commission to ensure that the TEC is helpful in achieving a positive conclusion of the Doha Development Agenda. It asks the Commission to evaluate whether a bilateral trade dispute settlement procedure could become a topic of interest for the TEC.. The TEC is asked actively to support the Doha declaration on the TRIPS Agreement facilitating access to life-saving medicines for those countries which have no production capacity for pharmaceutical products. Parliament calls on the Commission to raise the issue of the US policy of including in bilateral agreements negotiated with developing countries clauses under which those countries renounce the use of the provision of the Doha declaration on the TRIPS Agreement which allows them to produce and import generic drugs to tackle major public health problems. Lastly, it is an important task for the European side in the TEC to convince the EU's transatlantic partners of the need for a legally binding post-Kyoto regime on greenhouse gas emissions by 2012. Future Transatlantic Legislators' Dialogue (TLD) agenda: Parliament stresses the need to reflect within the TLD on a WTO post-Doha agenda, including WTO reform, and to discuss human rights and environmental and social rights clauses in bilateral trade agreements. Members reiterate their desire to strengthen dialogue between both parliaments, and call for their early involvement in particular as regards any future rules developed by global self-regulatory bodies in order to address, at an early stage, political accountability issues.
    • date: 2008-05-08T00:00:00 type: End of procedure in Parliament body: EP
    links
    other
    • body: EC dg: url: http://ec.europa.eu/enterprise/ title: Enterprise and Industry commissioner: VERHEUGEN Günter
    procedure/legal_basis/0
    Rules of Procedure EP 123-p2
    procedure/legal_basis/0
    Rules of Procedure of the European Parliament EP 123-p2
    procedure/subject
    Old
    • 5.03 World economy and globalisation
    • 6.20.03 Bilateral economic and trade agreements and relations
    • 6.40.11 Relations with industrialised countries
    New
    5.03
    Global economy and globalisation
    6.20.03
    Bilateral economic and trade agreements and relations
    6.40.11
    Relations with industrialised countries
    procedure/subtype
    Old
    Resolution on statements
    New
    Resolution on statement
    activities
    • date: 2008-05-07T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20080507&type=CRE type: Debate in Parliament title: Debate in Parliament body: EP type: Debate in Parliament
    • date: 2008-05-08T00:00:00 docs: url: http://www.europarl.europa.eu/oeil/popups/sda.do?id=15023&l=en type: Results of vote in Parliament title: Results of vote in Parliament url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P6-TA-2008-192 type: Decision by Parliament, 1st reading/single reading title: T6-0192/2008 body: EP type: Results of vote in Parliament
    committees
      links
      other
      • body: EC dg: url: http://ec.europa.eu/enterprise/ title: Enterprise and Industry commissioner: VERHEUGEN Günter
      procedure
      legal_basis
      Rules of Procedure of the European Parliament EP 123-p2
      reference
      2008/2527(RSP)
      title
      Resolution on the Transatlantic Economic Council
      geographical_area
      United States
      stage_reached
      Procedure completed
      subtype
      Resolution on statements
      type
      RSP - Resolutions on topical subjects
      subject