The European Union and the United States of America established diplomatic relations as early as 1953, but it was only in November 1990 that the cooperation was formalised for the first time with the Transatlantic Declaration [34 KB] . Since December 1995, the New Transatlantic Agenda [43 KB] (NTA) has provided the foundation for the relationship.
The ambitious agenda of cooperation between the EU and the US is taken forward via constant, intensive dialogue. This dialogue takes place at various levels, from the annual summit meetings between EU and US leaders to technical work at expert level.
Within the framework of the NTA and in line with the Transatlantic Economic Partnership (TEP) [115 KB] launched in 1998, the Transatlantic Economic Council (TEC) was created in 2007 to take forward efforts to boost the transatlantic economy. Under the TEC umbrella, a High-Level Working Group on Jobs and Growth was established by the 2011 EU-US Summit, tasked to identify policies and measures to increase EU-US trade and investment to support job creation, economic growth, and international competitiveness. The final report with conclusions and recommendations from the Working Group was produced on 12 February 2013.
Together, the EU and the USA have the largest bilateral trade and investment relationship in the world, roughly 31% of the world trade and over 49% of the world GDP. In keeping with the evolving political and legal personality of the EU, there is active cooperation across a host of sectors: cooperation in justice and home affairs, energy and energy security, environment, science & technology, education & training… more [50 KB]