Daimler-Benz CEO calls for 'Transatlantic Free Trade Zone' - Edzard Reuter welcomes plans for 'Free Trade Area of the Americas'.WASHINGTON--(BUSINESS WIRE)--Jan. 16, 1995--An initiative towards the liberalization lib·er·al·ize v. lib·er·al·ized, lib·er·al·iz·ing, lib·er·al·iz·es v.tr. To make liberal or more liberal: "Our standards of private conduct have been greatly liberalized . . . of world trade through the establishment of a 'Transatlantic Free Trade Zone' between America and Europe was proposed today by Edzard Reuter Edzard Reuter (born February 16 1928) was the CEO of Daimler-Benz from 1987 to 1995. Edzard Reuter was born in Berlin, his father was the popular social democratic politician and mayor of Berlin from 1948 to 1953, Ernst Reuter. , Chairman of Damiler-Benz, Germany's largest industrial concern. Reuter, in Washington to participate in an informal meeting of industry leaders from the US and Germany hosted by the Association of German Industry (BDI BDI Burundi (ISO Country code) BDI Beck Depression Inventory BDI Belief-Desire-Intention (AI agents) BDI Baltic Dry Index BDI Basic Driver Improvement (traffic school) ), called for taking a bold step towards economic integration of the European community European Community: see European Union. European Community (EC) Organization formed in 1967 with the merger of the European Economic Community, European Coal and Steel Community, and European Atomic Energy Community. and the proposed free trade zone of the Americas as insurance for future world peace. According to Reuter, it is high time "to utilize the rational power of economic networks in order to neutralize conceivable potential for political conflict." In light of strong temptations to erect protectionist barriers around the various economic blocks and government tendencies to intensify involvement and increase subsidies for the sake of their export trade, Reuter sees a bi-lateral Atlantic partnership as "the only tangible solution to successfully combat any attempts to reverse our shared values of liberalism." Referring to last year's gathering of thirty-four heads of state and government Reuter said, "The spirit of the Miami economic summit in December 1994 sent a significant political signal to the world. In Germany and Europe, we highly welcome a vision that will maintain and strengthen democracies, help eliminate poverty and discrimination and ensure the preservation of the environment." Reuter particularly sees a leadership role for the US and Germany in the development of a global economic partnership. "With the integration of the classic western and the new eastern European markets and with the prospect of a proliferation of NAFTA NAFTA in full North American Free Trade Agreement Trade pact signed by Canada, the U.S., and Mexico in 1992, which took effect in 1994. Inspired by the success of the European Community in reducing trade barriers among its members, NAFTA created the world's countries, the economic and political elites of the US and Germany will have to shoulder an even greater responsibility for free world trade," stated Reuter. Reuter's visit to Washington concludes a ten-day tour through India, Singapore, Vietnam and Hongkong where he met with political and business leaders to explore the potential for new partnerships and discuss issues concerning the rapidly emerging globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation of the world economy. Damiler-Benz, based in Stuttgart, Germany is a multinational, integrated high-technology corporation and a leading supplier of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. in all areas of mobility. With annual sales of over $60 billion and approximately 350,000 employees worldwide, Damiler-Benz is one of Europe's largest industrial concerns and has four corporate units: Mercedes-Benz (passenger cars and commercial vehicles); Damiler-Benz Aerospace (aircraft, aviation propulsion, space technology, defense and civil systems); AEG AEG Aeger (Latin: Sick) AEG Allgemeine Elektrizitäts-Gesellschaft (Common Electricity Company) AEG Aircraft Evaluation Group AEG Association of Engineering Geologists AEG Air Expeditionary Group Daimler-Benz Industrie (transportation systems, microelectronics, automation, power engineering and diesel drives); and Damiler-Benz InterServices (debis) (financial, marketing, insurance and mobile communications services, computer systems consulting, real estate management and trading). In North America Damiler-Benz employs 16,000 people at 30 companies, the majority of which is consolidated within Damiler-Benz North America Corporation. Since October 1993, Damiler-Benz shares have been listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (symbol:DAI). CONTACT: Daimler-Benz AG, Stuttgart, Germany International Media Relations Roland Klein, 011-49-711-17-93635 or fax: 011-49-711-17-94686 or Daimler-Benz North America Corp., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Corporate Communications Bernhard Harling, 212/308-4535 or fax: 212/826-0356 |
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