WASHINGTON (Pakistan Point News / Sputnik - 06th December, 2022) The United States and the European Union (EU) on Monday launched a transatlantic initiative on sustainable trade as part of efforts to reduce carbon emissions, according to a joint statement.
"The United States and the European Union have already taken and will continue to take important policy steps to reduce carbon emissions and promote the accelerated deployment and uptake of environmental technologies.� Today we launch a transatlantic initiative on sustainable trade," the statement said.
The initiative is expected to enhance work across the US-EU Trade and Technology Council (TTC) to support the transition to low-carbon economies by acting in respective areas of trade and environmental sustainability, the statement said.
Both the United States and the EU will explore areas of cooperation to measurably decarbonize their industries and facilitate the deployment of goods and services essential to the transition to more circular and net-zero economies, the statement added.
The TTC ministerial meeting is taking place in Washington D.C. on Monday. The meeting is attended by US Secretary of State Antony Blinken, Secretary of Commerce Gina Raimondo, US Trade Representative Katherine Tai, European Commission Executive Vice President Valdis Dombrovskis, and European Commission Executive Vice President Margrethe Vestager.
The US-EU Trade and Technology Council (TTC) was established at a US-EU summit in June 2021, by US President Joe Biden, European Commission President Ursula von der Leyen and European Council President Charles Michel. Since then, two TTC ministerial meetings have been held - one in September 2021 in Pittsburgh, and the second one in May of this year in Paris.
