With the regulatory bodies having to monitor an increasingly diverse global industry, the TEC believes it makes sense for the big regulatory bodies to pool resources.
One specific aspect of this broad policy is the launching of a pilot scheme for joint FDA and EMEA inspections of pharmaceutical manufacturing facilities in the US and EU.
In addition it is proposed that the two regulatory bodies undertake joint inspections of active pharmaceutical ingredient (API) facilities in countries outside of the EU and US.
At the last EU-US Summit on 30 April 2007, Commission President Barroso, German Chancellor Merkel and US President Bush signed the "Framework for Advancing Transatlantic Economic Integration between the United States of America and the European Union"
Key elements of this framework were the adoption of a work programme of cooperation and the establishment of the Transatlantic Economic Council (TEC) to oversee, guide and accelerate the implementation of this work programme.
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