"The agreement between the US and the EU marks significant progress towards a lasting solution to this 16-year dispute," Catherine Tai, US trade negotiator, quoted TASS as saying.

In particular, the United States and the European Union decided to suspend the imposed customs duties for five years.

World Trade Organization Director General Ngozi Okonjo-Iweala welcomed the agreement.

Earlier it was reported that the EU and the US will create a working group on vaccines.