Deutsche Post DHL chief Frank Appel has called for a free-trade zone between the European Union and the United States to be quickly put in place.
Speaking during the American Council’s award presentation, where he received the John McCloy Award in recognition of his work on behalf of transatlantic business relations, Appel said the opportunity was there for the taking and that it was time to seize it.
He argued that a transatlantic free-trade zone would produce at least one additional per cent of growth in both regions, as well as generate innovative momentum in many industries and sectors.
He said: “Such an agreement should not just address all types of trade barriers and promote the standardisation of rules in important business areas, it should also eliminate existing barriers to investment and market entry.
“The gains in efficiency resulting from this change would help both our customers and companies around the world. The world’s most important economic partnership could be fortified in this way.”
He also added that the idea could help tackle climate change and sustainable globalisation, which creates participation opportunities for more and more people around the world.