Transatlantic trade between US and EU would spur growth, says UPS

Newsroom 20/02/2013 | 15:32

UPS, the world’s largest package delivery company, commented that a transatlantic partnership between the US and EU 27 would open new export opportunities for both sides of the Atlantic and boost the US exports and job creation.

US president Barack Obama announced in his State of the Union address the launch of talks regarding a Transatlantic Trade and Investment Partnership with the EU. Obama pledged conclude negotiations this year.

“UPS sees strengthening and deepening the US -EU trade relationship as a cornerstone of our own success,” said Scott Davis, UPS chairman and CEO.

“A stronger partnership in trade between the US and the EU will bring tremendous benefits for U.S. and European exporters alike. UPS is excited about the possibilities of what a US-EU free trade agreement means to our customers and how it will improve the position of our economies.”

In 2011, the US – EUR 27 relationship generated USD 4.5 trillion in investments and trade. The services trade accounted for USD 300 billion, which is one-third of total US services trade and close to 10 percent of all world services traded.