Open aviation area with the US Sample Clauses

Open aviation area with the US. For the EU, by far the most important of all third country partners is the US. According to an economic report prepared in January 2007, an EU-US agreement would generate 26 million additional passengers over 5 years.161 It would produce economic benefits worth EUR 6.4-12 billion in the form of consumer surplus, and would also create 72 000 new jobs in the new EU-US market. An EU-US open aviation area would amalgamate the world’s two largest and most developed aviation markets with annual passenger numbers of 712 and 650 million respectively,162 which would probably serve to trigger a complete transformation of the global industry.163 The Commission’s negotiating mandate explicitly recognised the possibility of creating the open aviation area in several steps, taking into account the US’ opposition to certain issues like cabotage in the US or foreign ownership in US airlines. Negotiations began in October 2003 and a breakthrough was achieved in March 2007. After additional rounds of negotiations, the parties gave their support to 158 Euro Mediterranean Aviation Agreement between the European Union and its Member States, of the one part, and The Hashemite Kingdom of Jordan, of the other part – approved by Decision of the Council and of the Representatives of the Governments of the Member States, meeting within the Council of 15 October 2010, 2011/181/EU [2011] OJ L79/1. 159 See press release IP/12/307 (22/03/2012) EU-Israel aviation agreement: Israel joins Europe in aviation. 160 2012 Communication (n 150). 161 The economic impacts of an open aviation area between the EU and the US – prepared by Xxxx Xxxxx Xxxxxxxx for DG TREN, January 2007, available at: <xx.xxxxxx.xx/xxxxxxxxx/xxx/xxxxxxxxxxxxx_xxxxxxxx/xxxxxxx_xxxxx/xxx/xxxxx_xxxxxx_xx_xxx.xxx> accessed 31 December 2012. 162 For the year 2004, ibid page ii. 163 See in particular Air Transport Agreement between the European Community and its Member States, on the one hand, and the United States of America, on the other hand [2007] OJ L134/4 (EU-US Agreement) – approved by Decision of the Council and of the Representatives of the Governments of the Member States, meeting within the Council of 25 April 2007, 2007/339/EC [2007] OJ L134/1, last recital: ‘Intending to establish a precedent of global significance to promote the benefits of liberalization in this crucial economic sector’. an improved text, which the Council approved unanimously. The text contained safeguard measures which, it was intended, would...
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