The talks, which took place on November 9 in Washington aimed to promote overall trade between the two economic powerhouses, particularly in response to the threat posed by fast-growing Asian economies.
However, with particular reference to the cosmetics industry, discussions centered on the development of alternatives to animal testing and the need for bi-lateral efforts to ensure effective validation and acceptance of alternative testing methods between the two economic powers.
Colipa said the talks centered on greater co-operation between the US Food and Drug Administration (FDA) and the European Commission (EC) in an effort to reduce animal testing as a whole and as a means of harmonizing regulations between the two.
"The cosmetics industry needs a global regulatory environment that allows innovation, secures competitiveness, recognizes and supports efforts in the field of science and research and actively contributes to consumer confidence," said Bertil Heernik, director-general of Colipa.
Back in July delegates from the US FDA and the EC met in Brussels to discuss bilateral trading agreements between the two powers, where again, alternatives to animal testing were top of the agenda for the personal care industry.
With around seven per cent of all cosmetic products in the US being imported from the EU, amounting to a trade value of almost €3bn per year, and US exports of cosmetics to the EU amount to €1.5bn per year, the need for increased communication is clearly paramount.
Initial co-operation between the two regions was forged earlier this year, as EU leaders met with George Bush's administration to discuss greater co-operation on trade, as well as energy, security and foreign policy matters.
The two sides said that they wanted to work together to find alternatives to animal testing of personal care products in an effort to harmonize regulations on both sides and cut out animal testing altogether.
Currently animal testing of finished personal care products is outlawed in Europe, and, according to European Union rules, animal testing for cosmetic ingredients must stop once alternative options have been introduced, a feat that may be completed by the end of the summer.
This has presented problems for US personal care manufacturers, who follow less stringent regulations with regards animal testing.
Ultimately the move towards greater co-operation on animal testing between the two powers should ensure more uniform regulations, securing greater opportunities for Transatlantic personal care trade.
As well as specifically focusing on animal testing, the talks also focused on other issues that will effect all trade between the two powers, including the harmonization of accounting standards, security issues, labelling and general regulations relating to trade and investment.
With more talks scheduled for next year, a statement from the TEC said that the latest meeting had shown the sort of progress the body can make, adding that this was only the start of what was expected to be a long but fruitful process.
