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Cameron, Obama prepare for EU trade pact

Monday, May 13, 2013 - 01:39

May 13 - British Prime Minister David Cameron and U.S. President Barack Obama lay the groundwork for their push towards a trans-Atlantic deal between the U.S and the European Union. Conway G. Gittens reports.

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Syria is certain to be the main topic of discussion between President Barack Obama and British Prime Minister David Cameron during a visit to the White House. But the two are also working on a trans-Atlantic trade deal. Cameron says the two countries participate in more than $17 billion of trans-Atlantic trade every month. SOUNDBITE: BRITISH PRIME MINISTER DAVID CAMERON (ENGLISH) SAYING: "President Obama and I have both championed a free-trade deal between the European Union and the United States and there is a real chance now to get the process launched in time for the G8. So the next five weeks are crucial. To realize the huge benefits this deal could bring will take ambition and critical will. That means everything on the table, even the difficult issues and no exceptions. It is worth the effort. For Britain alone, an ambitious deal could be worth up to 10 billion pounds a year, boosting industries from car manufacturing to financial services." And with the discussion of trade and economic growth comes the thorny issue of - taxes. SOUNDBITE: BRITISH PRIME MINISTER DAVID CAMERON (ENGLISH) SAYING: "I am an unashamedly pro-business politician but as we open up our economies to get business growing we need to make sure that all companies pay their taxes properly and enable citizens to hold their governments and their businesses to account. Today, we've agreed to tackle the scourge of tax evasion. We need to know who really owns a company. Who profits from it. Whether taxes are paid and we need a new mechanism to track where multi-nationals make their money and where they pay their taxes so we can stop those who are manipulating the system unfairly." The two leaders are laying the groundwork for the upcoming G8 meeting in Ireland.

Cameron, Obama prepare for EU trade pact

Monday, May 13, 2013 - 01:39

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