US President Barack Obama will travel to Lisbon in November for two separate summits with the EU and NATO leaders.
The European Commission in Brussels said that the President of the European Council, Herman Van Rompuy, and the President of the European Commission, Jose Manuel Barroso, will welcome Obama at the next European Union-United States Summit in the Portuguese capital on 20 November.
Following an invitation by the European leaders, both sides agreed on a mutually convenient date and venue for the EU-US Summi, it said.
This will be the first summit since the entry into force of the Lisbon Treaty which modernises the EU's operations, reinforces its capacity to take action, enhances democratic processes within the EU, and gives the EU a single voice in external relations.
Under the Lisbon Treaty, the Belgian Prime Minister, Yves Leterme, will not take part in the meeting on behalf of the Belgian EU presidency, because EU Council President Herman Van Rompuy is the new face of the EU abroad.
“Presidents Van Rompuy and Barroso are looking forward to this opportunity to meet again with President Obama to reaffirm the transatlantic agenda and advance EU-US cooperation on issues of mutual concern,” the EU said in a statement.
The EU statement also noted the importance of the 4.28 trillion dollar transatlantic economic partnership “which is a key driver of global economic prosperity and represents the largest, most integrated, and longest lasting economic relationship in the world.”
It noted that the two transatlantic partners account together for half of the global economy. “They cooperate effectively on foreign policy issues, including the Middle East peace process, Afghanistan/Pakistan, non-proliferation and regional conflicts.
A regular dialogue on foreign policy takes place between EU High Representative Catherine Ashton and US Secretary of State Hillary Clinton.
In Washington, the White House said that “the United States has no stronger partner than Europe in advancing security and prosperity around the world.”
"Our economic relationship is vital to global prosperity, and we are committed to cooperating to promote strong and sustained growth in our economies."
Leaders from the US and European Union traditionally meet once a year for wide-ranging political and economic talks.
Recently, US-EU relations have been somewhat strained, as Europeans complained that transatlantic issues under the Obama administration at times have taken a backseat to US-Pacific region affairs.
The summit of NATO heads of state is expected to focus on the nine-year-old war in Afghanistan and reforming the military alliance is to take place on November 19-20.
There are currently more than 140,000 US and NATO-led troops in Afghanistan aiming to flush out remnants of the Islamist Taliban, who went on the offensive after being toppled from government in the 2001 invasion.
But Obama has seen support for the war dwindle at home, while a succession of countries that have supplied troops to the war effort, with the Netherlands Canada, and Denmark all announcing they soon will bring their troops home.