Prime Minister David Cameron welcomes world leaders to the UK’s G8 Summit in Lough Erne, Northern Ireland.
On day one of the G8 Summit the EU and US have agreed to launch formal negotiations to secure a deal that could be worth up to £380 for every British household.
The agreement was announced at a press conference at Lough Erne
Securing a deal would deliver on one of the PM’s priorities for the summit.
The Prime Minister David Cameron said:
“I want to focus on three vital drivers of growth – trade, tax and transparency – where I believe we can agree some transformative results. An EU-US trade deal could be worth £10 billion to the UK alone – in the end that’s not some abstract statistic, these trade deals matter, because they mean more jobs, more choice for consumers and lower prices.
“This is a once in a generation prize and we are determined to seize it.”
What is the G8?
G8 is a forum that brings together global leaders from Canada, France, Germany, Italy, Japan, Russia, USA and UK to tackle the most pressing global challenges. Read: What is the G8?
The Presidency of the G8 rotates each calendar year and this year the UK holds the Presidency.