The European Commission and U.S. Food and Drug Administration have agreed to exchange confidential information about the safety of cosmetics and medical devices. The agreement was made at a bilateral meeting in Brussels, and it reportedly enables better health protection and easier trade between the European Union and the United States. Also established at a meeting in Berlin was the Transatlantic Economic Council (TEC). The council aims to improve of regulatory cooperation, intellectual property rights, secure trade, financial markets, innovation and technology and investment between the EU and the United States.
This transatlantic economic integration will allow the exchange of early information that may protect public health, while taking away stumbling blocks for trade. According to some, the agreement will enable the acceptance of each other’s alternative methods to animal testing.
Information exchanged as a result of the agreement will include advance drafts of legislation and/or regulatory guidance documents; post-marketing data and information that could have an impact on the public health, such as vigilance data or information about impending regulatory actions; and information on ongoing and emerging regulatory issues of health and safety in the United States or the EU.