Bill Clinton: “Economy December 18, 1998 The U.S. and the EU are engines for global economic growth. We share a common vision of a…”

“Economy December 18, 1998 The U.S. and the EU are engines for global economic growth. We share a common vision of a market-based global economy and particular responsibilities for promoting stability, continued growth and prosperity. We must lead the way in keeping markets open. A rules-based international trade system and a strengthened international financial system are necessary to ensure transparency and predictability and to maintain public confidence in the benefits of open economies. We are concerned about the serious social and economic impact of the financial crisis on many countries, and we will work together with them in the face of their major economic difficulties. We are committed to promoting open markets through further broad- based liberalization, including through strengthening the multilateral trading system, and through the Transatlantic Economic Partnership (TEP) on which we agreed in London in May. We have drawn up, and started to implement, a Joint Action Plan to pursue this Partnership. It will contribute to further market opening and strengthening of links between the U.S. and EU economies in ways that support and point the way for further multilateral liberalization, while benefiting our peoples. The TEP initiative will enable us to launch bilateral negotiations for the further reduction of trade barriers.…”