German Chancellor Angela Merkel said in comments published today the European Union and the United States should more closely harmonise their financial market regulations, patent laws and other economic mechanisms.
In an interview with the Financial Timesbefore a trip to Washington this week, Ms Merkel outlined her goals for Germany's six-month rotating presidency of the European Union and its year-long presidency of the Group of Eight nations.
Ms Merkel said closer harmony between the 27-nation EU bloc and the United States would boost investment flows and trade.
"We have accumulated a certain expertise about single markets in Europe, which we can apply on the transatlantic level," she told the newspaper, according to an edited transcript of the interview published on the FT's website.
"With increasing globalisation, this can be a good basis for transatlantic cooperation."
Ms Merkel said she would touch on this topic during talks with US President George W. Bush in Washington this week.
"The EU and the US have sophisticated patent legislation. We have regulatory mechanisms governing our financial markets. We should be looking for ways to keep developing these together at a transatlantic level," she said.
"We must watch out that we do not drift apart, but instead come closer together, where there are clear advantages for both sides."
Germany's relationship with the United States cooled under previous Chancellor Gerhard Schroeder but has improved since Merkel took over in 2005.