untapped potential
Leaders of the US and EU have said that there is a possibility that they could begin bilateral trade talks in a bid to boost economic growth and create jobs.
The announcement was made at the end of a summit held at the White House recently, and a joint working group was mentioned which would look into how best to enhance the ‘untapped potential’ of an economic co-operation between the US and EU, the BBC reported.
A deal of this kind would be considerable and the US and EU make up approximately 50 per cent of the economic output of the world.
President Obama said: "I communicated to them [the EU leaders] that the United States stands ready to do our part to help them resolve this issue."
In addition, a joint statement issued from the two sides, said: "We must intensify our efforts to realise the untapped potential of transatlantic economic co-operation to generate new opportunities for jobs and growth."
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