David Cameron sets free trade agreement as his G8 priority (deal to be between Europe/US)
Source: The Guardian
David Cameron has made the establishment of a free trade agreement between Europe and the US a key priority during the UK's leadership of the G8 group of richest nations this year.
In a letter to fellow national leaders in the group, whose economies make up more than half the world's output, the prime minister said expanding free trade was one of three areas he wanted them to focus on.
As well as making progress with discussions ahead of trade deals with Canada, Japan and Russia, Cameron wants the even bigger prize of an agreement, at least in principle, on a deal with the US. Such a treaty could reduce duties on goods traded between European Union members and the US or at least lower "non tariff" barriers such as harmonising standards for certain goods.
Cameron also wants national and EU leaders to co-operate in a crackdown on tax evasion and insist on more transparency from developing nations which receive aid.