EU Commissioner Mandelson Says EU-U.S. Ties Should Serve "Equitable Globalization"

 In a speech at the Carnegie Endowment in Washington, EU Trade Commissioner Peter Mandelson today said that the European Union and the United States must use their collective economic weight to underwrite the openness of the global economy as it adjusts to the rise of new economic powers and greater global flows of investment.

"We must engage with economic globalization, accept it, shape it," said Commissioner Mandelson. "In fact, I would argue that the preservation of an equitable economic globalization should be the core political commitment at the heart of the transatlantic economic relationship."

Speaking on the eve of the first Transatlantic Economic Council (TEC) meeting, Commissioner Mandelson argued that "close cooperation between the EU and the U.S. should not be perceived or presented as an attempt to organize economic change exclusively on their own terms or to block the rise of others, but as a way to underwrite a strong multilateral order based on cooperation and economic openness."

FULL TEXT of Commissioner Mandelson's speech

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