WASHINGTON: Cars, cosmetics, information technology and medicines are among the industries earmarked for potential gains in trade talks between the European Union and the US, negotiators said.

The world’s largest free-trade deal would seek to bridge regional differences in rules governing everything from seatbelts to factory site inspections and stop manufacturers having to double up on compliance.

Negotiators have not yet started on the fine print of the proposed deal, which would encompass nearly half the world’s economic output, but have begun a short list of sectors which seem particularly ripe for common ground in terms of regulation.

So far this includes autos, pharmaceuticals, cosmetics, medical devices, textiles, chemicals and information and communications technology, negotiators said.

“These are sectors (where) both sides have indicated an interest in moving forward in terms of specific sectoral commitments,” Ignacio Garcia Bercero, the EU’s chief negotiator, told reporters as the third round of talks wound up in Washington.

Economists estimate an ambitious trade accord could boost economic output in both the EU and the United States by more than $100 billion a year, with the bulk of gains from cutting costs imposed by bureaucracy and regulation.

But there are many thorny issues to resolve, including agriculture, food standards, consumer protection, data privacy and environmental concerns.