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U.S., E.U. sign pact to open skies

WASHINGTON: The United States and the European Union (E.U.) on Monday signed an ``open skies'' deal, allowing airlines for the first time to offer a wider range of services between the 27-nation bloc and the United States.

The deal, reached after 11 rounds of talks between the E.U. and the United States, will open up the transatlantic market to increase competition from March 2008.

``This agreement ushers in an era of unprecedented liberalisation for an area that encompasses 60 per cent of global civil aviation traffic,'' U.S. Secretary of State Condoleezza Rice said at the signing ceremony.

Jacques Barrot, Vice-President of the European Commission, said that increasing competition would shake up the transatlantic market and lead to lower fares.

``Already, the European airline industry is feeling its effects in a positive way, with plans for new services and signs of a much more flexible and dynamic approach to airline investment among European carriers,'' Mr. Barrot said in a statement.

— Xinhua

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