At yesterdays EU-US summit in Vienna, a new eight-year education agreement was signed between the two parties, renewing their long-standing cooperation programme in higher education and vocational training.

The new agreement will usher in innovative Transatlantic Degree programmes, promote exchanges of students, teachers and other professionals, strengthen the Schuman-Fulbright Programme and encourage greater institutional collaboration in tertiary education.

The European Commission plans to allocate EUR 45 million to the cooperation programme over the period 2006-2013 with a target of 6 000 EU and US persons participating in mobility activities over the duration of the programme. The text signed in Vienna will promote structural, long term partnerships among EU and US higher education and vocational training institutions.