I propose to take Questions Nos. 1 and 2 together.
Arrangements for the EU-US summit in Dromoland Castle are complete and, on behalf of the European Union, the Taoiseach looks forward to hosting this important meeting. This summit is important in a number of respects, not least as the first EU-US summit of the enlarged European Union of 25 member states.
The summit's wide-ranging agenda reflects the inescapable fact that most of the key international issues require sustained and productive co-operation between the United States and the European Union. The interests of citizens on both sides of the Atlantic, and of the wider international community, are best served when the European Union and the United States co-operate and work together. Counter-terrorism, where clearly co-operation between Europe and the United States is indispensable for the safety and security of our citizens, will be discussed.
Other important issues that will be discussed include Iraq, the Middle East peace process, relations with the wider Mediterranean and Middle East regions, Afghanistan, Sudan and the non-proliferation of weapons of mass destruction. The summit will also highlight the continued commitment and leadership of the European Union and the United States in the global fight against HIV-AIDS.
On Iraq, the Taoiseach will set out the European Union's position as agreed at the European Council last week where the European Union affirmed its objective of a secure, stable, unified, prosperous and democratic Iraq that will make a positive contribution to the stability of the region. It agreed that the Union as a whole should work in partnership with the Iraqi Government and people, with the aim of realising these objectives.
The European Council welcomed the recent unanimous adoption of UN Security Council Resolution 1546 on Iraq and, in particular, the continuing mandate that it confers on the UN itself. It also welcomed the commitment under this resolution for all parties to act in accordance with international law, including obligations under international humanitarian law, and called on them to ensure observance of these obligations. There is a shared determination on both sides of the Atlantic to build on the consensual approach reflected in the unanimous adoption of Resolution 1546. Both sides are keen to ensure that the transition process in Iraq is crowned with success, with the UN having a central role.
The transatlantic economic relationship will also be high on the summit agenda. The EU-US trade figures speak for themselves. Every day €1 billion worth of trade is conducted between both sides, reflecting the depth and breadth of our economic links. There is widespread US investment in Europe, including Ireland. Likewise, the importance of European Union investment, including Irish investment, for US jobs is significant.
The summit will recognise the need to further strengthen and widen the transatlantic economic relationship to include the many aspects which affect our investment relationship, as well as trade in goods and services. In order to advance this objective, the summit is likely to consider how to conduct a fundamental reassessment of all aspects of our bilateral economic relationship, to identify any underlying impediments to trade and investment and accelerate their elimination, as well as identify areas for increased integration and growth.
The use of Shannon Airport is not a matter for formal discussion at the EU-US summit. Ireland's position on this issue has been endorsed democratically in this House.