The trade and investment relationship between the European Union and the United States is

the most important in the world. Despite the emergence of competitors, Europe and America are the dynamo of the global economy.

This economic relationship is a foundation of our political partnership, which we all know has been through a difficult patch. The identity of interest between Europe and America is less obvious than during the cold war. But while the trans-Atlantic relationship is becoming more complex, that does not make it less important. As European commissioner for trade, I do not agree that European and American values are fundamentally diverging, or that our interests no longer coincide.

We still share a belief in democracy and individual freedoms, and in creating opportunity and economic openness. We face the same security challenges. We look ahead to shared global problems: poverty, migration, resource crises, climate change.

We need commitment and vision to redefine our relationship. I want to see a stronger and more balanced partnership -- one in which Europe is more united, more willing to take its role in global leadership and one where the United States is more inclined to share leadership with Europe. We need to find ways to complement each other, not compete in the political arena.

We will not achieve either side of this equation without the other. Europe needs to build stronger foreign policies and to be ready to act on the world stage. But equally, the body language we see from America has a huge impact on how Europeans view the partnership. Our common interest requires a strong Europe, not a weak and divided one. I hope that the United States will reinforce its historical support for European integration.

I am fortunate now to take over an area of policy in which Europe is highly effective: trade. Our top trade priority on both sides of the Atlantic must be to put our weight behind the multilateral Doha development agenda. Concluding this negotiation in a way that lives up to its ambition will bring enormous benefits.

Collectively, we took a major step in reaching the framework agreement in Geneva last July, following the lead taken by the E. U. on agriculture export subsidies. We now look to the United States and others to follow that lead, and we need to accelerate work in other areas -- on industrial tariffs and services -- to achieve a balanced result.

The Doha round of talks differs from any other in its focus on development. Europe and the United States must ensure that poorer countries are fully engaged and derive benefits. But the issues we need to tackle to stimulate growth and innovation in trans-Atlantic trade are not those on the Doha agenda. Our markets are relatively open and highly developed. We need to concentrate on removing regulatory and structural barriers that inhibit activity. This is about cutting international red tape. Our regulatory systems and cultures are different, but that is where real gains can be made.

As E. U. trade commissioner I want to develop an ambitious but practical trans-Atlantic agenda. I am not inclined to set rhetorical targets or launch lofty initiatives. I want a set of achievable goals.

Work on trans-Atlantic deregulation will also contribute to the central goal of the new European Commission: promoting growth and jobs in Europe.

I am not naive. I am not turning a blind eye to the inevitable disputes in trans-Atlantic trade. They are relatively small as a proportion of total trade, but they make the headlines. They reflect the huge volume of our trade and investment flows. That is good. They also reflect our readiness to settle disputes in the World Trade Organization. That is also good. The WTO is the best example of effective multilateralism that the world has so far invented. I hope we will work together to uphold it. If multilateralism is to be worthwhile, it has to be ef

A．machine

B．power

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D．center