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Feb. 13, 2013 /PRNewswire-USNewswire/ --Leaders from the European Union and
the United States announced today that they will initiate internal procedures to launch negotiations on a Transatlantic Trade and Investment Partnership. Together, the EU and U.S. would form the largest free trade zone in the world, and a future deal is expected to provide a strong boost to the economies on both sides of the Atlantic.
In a joint statement, United States President
Barack Obama, European Council President Herman Van Rompuy and European Commission President
Jose Manuel Barroso noted that "The transatlantic economic relationship is already the world's largest, accounting for half of global economic output and nearly
one trillion dollars in goods and services trade, and supporting millions of jobs on both sides of the Atlantic. We are committed to making this relationship an even stronger driver of our prosperity."