The US and EU are hoping to construct an 800-million-citizen-strong market with converging regulatory regimes whose standards will set the benchmark for product rules the world over.
At a meeting of joint EU-US Transatlantic Economic Council (Tec) on Friday (17 December) described as "fantastic" by American officials, the two sides backed a plan to try to seek common recognition for each others' standards in new areas of product development, from nanotechnology to electric cars.
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