7. Recommends that by the next 2006 summit, the EU and the US agree to both update the New Transatlantic Agenda (NTA) of 1995 and the Transatlantic Economic Partnership (TEP) of 1998 and draw up a new transatlantic partnership agreement that covers both and leads to the achievement of a "barrier-free transatlantic market" by 2015 with a 2010 accelerated target date for financial services and capital markets; this initiative should be based on the Economic Initiative adopted at the June 2005 EU-US Summit and the Joint EU-US Work Programme, setting specific sector-by-sector objectives with a view to taking stock of the progress achieved i ...[+++]n 2005-2006 and specifying future steps to be taken;

(7) It is therefore in the interest of all those involved in air traffic management to develop a new partnership approach allowing the balanced involvement of all parties and stimulating creativity and the sharing of knowledge, experience and risks; such partnership should aim at defining, in cooperation with industry, a coherent set of Community specifications that can fulfil the widest possible range of needs.

- A role, with the Commission at the centre, as a catalyst for new ideas and reform, working in partnership with member states to encourage new approaches to change.

4. With respect to delivery mechanisms, the Commission proposes a mix of binding and non-binding approaches, across sectors, with the aim of giving new impetus and quality to the EU-US economic partnership while reflecting our commitment to promote sustainable development.

I am also pleased with the government's new domestic Team Canada style partnership approach between business and government to create entry level jobs for our youth.

It is only by exploring new approaches in partnership with the Member States that we shall be able to address successfully these areas and to develop effective and forward looking European training and employment policies'.