The European Union and the United States have agreed to pursue a free trade agreement, US President Barack Obama and the EU announced Wednesday.
"The United States and the European Union will each initiate the internal procedures necessary to launch negotiations on a Transatlantic Trade and Investment Partnership," Obama, EU President Herman Van Rompuy and EU Commission President Jose Manuel Barroso said in a joint statement.
"Ideally, we'd like to complete this work in about two years from now," said EU Trade Commissioner Karel De Gucht, stressing that the undertaking "won't be easy."
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