US, UK agree new economic partnership

WASHINGTON, June 8 (KUNA) -- US President Joe Biden and Prime Minister Rishi Sunak, of the United Kingdom, unveiled the Atlantic Declaration for a Twenty-First Century US-UK Economic Partnership - a new initiative covering the areas of economy, supply chains, artificial intelligence and defense.
Speaking at a joint press conference at the White House on Thursday, President Biden said, "Today in Washington, we have had important and positive discussions to deepen our bilateral economic relationship and expand our cooperation to shape the challenges and future for this remainder of this century." "It's a testament to the depth, breadth, and I would argue the intensity of our cooperation and coordination, which has existed -- continues to exist between the United Kingdom and the United States.
"Our economic partnership is an enormous strength and source of strength that anchors everything that we do together," Biden noted. "We want to harness that power to make sure we are creating good jobs and supporting working class families in both our countries, and that growth is shared broadly and no one gets left behind.
"So, today we're releasing a new plan to equip our economic partnership for the 21st century. "It outlines how we can enhance our cooperation to accelerate the clean energy transition that must take place and is taking place, lead the development of emerging technologies that are going to shape so much of our future, and protect technologies critical to our national security," he added.
On his part, Sunak said, "-- we have agreed the Atlantic Declaration, a new economic partnership for a new age of a kind that has never been agreed before." "Yes, a partnership that protects our citizens, but more than that, a test case for the kind of reimagined alliances President Biden has spoken so eloquently about.
"That means new investment. This week alone, 14 billion euros of new American investment has been committed into the UK, creating thousands of jobs. "It means stronger supply chains with a new action plan on clean energy and it means reducing trade barriers in the technologies of the future with a new secure UK-US data bridge helping tens of thousands of small businesses, an agreement to work towards mutual recognition of more professional qualifications in areas like engineering, and we're launching negotiations on a new critical minerals agreement.
"Once concluded, this will give UK companies stronger access to the US market," the British Premier explained. "And we're building on our extraordinary shared strengths in cutting edge future technologies with joint research collaborations in areas like quantum semiconductors and AI. "Now, our job as leaders is to ensure that this technological revolution makes us more secure and not less," he added.
Meanwhile, a White House factsheet said that the Partnership aims to ensure that "our unique alliance is adapted, reinforced, and reimagined for the challenges of this moment." "Over the last century, the essential partnership between the United States and the United Kingdom has enabled us to lead together on issues of global importance. "Today, we are announcing the Atlantic Declaration for a Twenty-First Century US-UK Economic Partnership to build on that partnership in the economic sphere," the statement reads. "The United States and the United Kingdom resolve to partner to build resilient, diversified, and secure supply chains and reduce strategic dependencies. "We remain committed to continuing to lead in the technologies of the future and advance the closest possible coordination on our economic security and technology protection toolkits to ensure that emerging technologies work for, not against, our democracies and security," according to the statement. "And as democratic and open societies we resolve to work together to ensure the safety, prosperity, and security of our nations and peoples while driving growth in living standards across the world.
"The Atlantic Declaration and accompanying Action Plan form the basis of a new type of innovative partnership across the full spectrum of our economic, technological, commercial and trade relations; a first of its kind that has never been tried before, and which demands our joint leadership and imagination to realize in full.
"Senior White House and Downing Street representatives will convene biannually under the Atlantic Declaration Action Plan (ADAPT) to develop and drive forward concrete progress across the Atlantic Declaration Action Plan and ensure increasing ambition over the next months and years," it added.
The goals of the partnership include "Ensuring U.S.-UK Leadership in Critical and Emerging Technologies; Partnering on an Inclusive and Responsible Digital Transformation; Enhancing cooperation on data; Accelerating cooperation on AI.; Launching a Civil Nuclear Partnership; Strengthening our Alliance Across Defense, Health Security, and Space; (and) Strengthening our world-leading partnership across sanctions strategy, design, targeting, implementation and enforcement." "We will continue to coordinate our work to tackle sanctions evasion and intend to jointly target those facilitating Russia's illegal invasion of Ukraine in Russia, Belarus, and in third countries, including those who help Russia acquire goods and technology that support Russian aggression," the statement concluded.
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