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Growth and prosperity in Europe through transatlantic partnership

AmCham Germany’s position on the 2019 European Parliament election

May, 2019 - AmCham Germany published a position paper due to the European Parliament election, containing concrete policy recommendations and success factors to promote growth and prosperity in Europe on the basis of common transatlantic values.

Europe's economic success is based on a domestic market with strong international businesses and more than 500 million consumers. Therefore, one of AmCham Germany's central demands is to complete the digital single market. Cross-border trade in services also needs to be strengthened as well as financial market integration. In order to achieve the climate targets for Europe as a whole, stronger integration of the EU internal energy market is also essential.

"We are surprised that the transatlantic partnership is barely mentioned in the parties' electoral campaigns," said Frank Sportolari, President of AmCham Germany. "The transatlantic partnership is the basis for prosperity and security in Europe.'' Europe should continue to engage in dialogue on the transatlantic economic partnership, because both sides benefit from their trade relations. "We need a transatlantic free trade agreement that ensures fair and free trade, counteracts protectionist measures and also asserts itself in competition against China. For our members to continue to be successful, we need business-oriented framework conditions," said Sportolari. These should include policy areas across the board, such as trade, digital and financial policy.

Despite existing tensions in transatlantic relations, Europe and the US remain each other's most important trading partners. Together, the two continents account for almost half of global economic output. Therefore, it is all the more important to create a competitive political framework for companies in Europe. Improving transatlantic economic and trade relations should be high on the agenda of the European Parliament and the Commission. This is the only way to preserve growth, prosperity and hence political stability in Europe.

A long-term successful economic policy must be grounded on an intact ecological and social environment. For this reason, impacts on the environment and social sustainability in the individual member states, the European Union and the rest of the world have to be taken into account in all political endeavors. Climate change, the transformation to a recycling economy and global societal differences pose particular challenges.

For the press release version in German, click here.

You can find the complete position paper here.

For further information, please contact:

Katharina-Luise Kittler
Manager, Communications
American Chamber of Commerce in Germany e.V.
+49 030 2130056 - 34