Second stage negotiations
Article 21
1. The Parties share the goal of continuing to open access to markets and to maximise benefits for consumers, airlines, labour, and communities on both sides of the Atlantic, including the facilitation of investment so as to better reflect the realities of a global aviation industry, the strengthening of the transatlantic air transportation system, and the establishment of a framework that will encourage other countries to open their own air services markets. The Parties shall begin negotiations not later than 60 days after the date of provisional application of this Agreement, with the goal of developing the next stage expeditiously. 2. To that end, the agenda for the second stage negotiations shall include the following items of priority interest to one or both Parties: (a) further liberalisation of traffic rights; (b) additional foreign investment opportunities; (c) effect of environmental measures and infrastructure constraints on the exercise of traffic rights; (d) further access to Government-financed air transportation; and (e) provision of aircraft with crew. 3. The Parties shall review their progress towards a second stage agreement no later than 18 months after the date when the negotiations are due to start in accordance with paragraph 1. If no second stage agreement has been reached by the Parties within 12 months of the start of the review, each Party reserves the right thereafter to suspend rights specified in this Agreement. Such suspension shall take effect no sooner than the start of the International Air Transport Association (IATA) traffic season that commences no less than 12 months after the date on which notice of suspension is given.