It was a substantial step forward, as it integrated the foreign and security dimension of the EU into the dialogue with the US and formalised the Summit process. There are many success stories. An important contribution to the successful broadening and deepening of transatlantic relations over the past few years has come from the efforts of business and civil society, in particular through the Trans-Atlantic Business, Environment, Consumers or Labour Organisation Dialogues. At parliamentary level the Transatlantic Legislators' Dialogue has helped to reinforce the links between the European Parliament and the US Congress. We should build upon these Dialogues to ensure that legislators and civil society become much more closely involved in building up a solid and well founded transatlantic partnership.
Globalisation strengthens our transatlantic links.
BP itself, the company that funds the transatlantic chair, has entered into a US-European joint venture, merging with Amoco. On the purely business side, one could say that the EU is on the right track. We must nevertheless admit that the picture is not so bright in other areas. There are still considerable gaps in performance between the EU and the US in a number of fields. Take, for example, high technology and research.