Sat, Nov 19, 2005
SecTrans Mineta issued the following
statement as the US and the European Union reached a tentative
agreement to "dramatically expand aviation service and boost
competition." Negotiating teams made significant progress over the
past week on the pact, which awaits approval by the EU's transport
ministers. They will review the agreement next month.
The EU is reportedly staking their approval on a major sticking
point... requiring the US to ease some limits on foreign investment
in American air carriers, postulating that such developments wouldd
facilitate increased investment and wider access to profitable
markets.
Mineta noted (Friday) that, "Today's completion of the text of a
first-step agreement between the United States and the European
Union provides an historic opportunity to increase travel, reduce
fares, expand commerce and bring two continents closer together
than ever before. The agreement also goes beyond traditional
Open-Skies agreements by applying those principles on a regional
basis. It provides new opportunities for US and European airlines,
healthier competition for a growing travel market and greater
connections between cities and towns of all sizes on both sides of
the Atlantic.
More broadly, this agreement would bring nearly 750 million
people and twenty six countries together to comprise the largest
and most lucrative open aviation market ever created. I hope that
this agreement will be approved so our airlines, travelers, and
economies can begin reaping its benefits."
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