EU, U.S. to launch trade talks next yearOctober 17, 2012 - 15:34 AMT PanARMENIAN.Net - Europe and the United States are set to launch trade talks early next year to deepen the world's largest trading relationship, EU and U.S. officials say, potentially unleashing billions of euros of new transatlantic business, Reuters reported. Together, the bloc and the United States account for about half the world's economic output and nearly a third of world trade. But a debt crisis in Europe and elusive American growth are pushing both sides to consider knocking down the final barriers to trade. A deal could increase economic output by 122 billion euros ($158 billion) a year for Europe alone and add 0.52 percent to the EU's gross domestic product in the long term, according to European Commission estimates, benefiting industries ranging from chemicals to automakers. An expert group co-chaired by EU Trade Commissioner Karel De Gucht and US Trade Representative Ron Kirk will in December issue a report recommending pursuing talks, EU and U.S. officials say. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |