This has been the last summit at which I have participated as the President of the Commission.
Over the past five years, Europe has gone through an enormous transformation.
Together with my colleagues at the Commission we have helped deliver the Euro, which by now has become the single currency for more than 300 million Europeans.
We have negotiated and successfully completed the biggest expansion in the history of the European project by bringing in ten new Member States to our family.
Together with the skilful Irish Presidency, we have adopted a constitution for the whole of the European Union.
As a consequence, this European Union has become an important economic and political actor on the global scene.
In our discussions with President Bush we, Prime Minister Ahern and myself, have today spoken in the name of more than 450 million Europeans.
This is the reality in Europe and the new reality in the EU-US relations.
Everyone here knows how close the ties between Europe and the United States are. We know as well that these ties are not only based on our historic, cultural and political links but on a rock solid economic partnership as well: 2 billion dollars flow every day across the Atlantic.
In this summit our cooperation has broken new frontiers.
The agreement on cooperation between our two global satellite navigation systems, GALILEO and GPS, is a win-win situation for both sides. I am certain that the repercussions for the global market of civilian users of satellite navigation systems are very positive.
The new system will become operational in 2008, and it will create some 150 000 jobs in Europe alone.
GALILEO is a good example of how the EU, strengthened by the Euro, the Constitution and the re-unification of our continent can and will play its full part as an international actor.
Together, the EU and the US can meet the global and regional challenges as well as threats to our security but – and I would like to emphasise this strongly – we must work together as true partners and friends do.