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Trade between Europe and the United States is worth almost $3 billion a day and a pact could boost both the EU and U.S. economies by more than $100 billion a year each - an attractive prospect after the devastating impact of Europe's debt crisis.
"This is a once in a generation prize and we are determined to seize it," said British Prime Minister David Cameron, flanked by U.S. President Barack Obama and the presidents of the European Commission and the European Council.
The first round of negotiations will take place in Washington in July, Obama said, speaking at the Group of Eight summit near the Northern Irish town of Enniskillen.
First considered three decades ago but knocked down by France in the 1990s, the idea of an EU-U.S. free-trade deal has gathered momentum as Brussels and Washington look to generate growth and China's rise prompts deeper Western integration.
The United States and the European Commission, the exe
