( CNN ) -- This week the U.S. president will visit Brussels for the first time . Quite why he has left it to his second term to make the trip baffles many in the EU 's halls of power . And there 's no denying it paints a decidedly underwhelming picture of today 's trans-Atlantic relationship at a time when Russia 's aggression in the east requires it to be strong . Born from the ashes of the second world war , Europe 's alliance with the United States has been a major force for global peace and prosperity , conquering cold wars and fighting for common values . Yet amid allegations of America spying on its friends and Europe 's ensuing grudge , it 's time to redefine those ties so that both parties can move on to the next stage . Like a marriage in which the kids have long flown the nest , the EU and the U.S. have drifted apart . Europe 's countries have crept closer together , pooling their commercial might into one free trade and legislative bloc , just as Washington has entered a new isolationist era . Mistrust has crept in . Younger , burgeoning emerging economies have tempted the roving eve and , though it 's not yet time to call in the divorce lawyers , a reality check is long overdue . So what better excuse to take stock than a comparatively new initiative called the Transatlantic Trade and Investment Partnership , or T-TIP for short , the biggest free trade pact in history and the cornerstone of a new economic age . Let 's face it , trade in itself is not a sexy subject . But if politicians were to let the money do the talking for once , their electorates would sit up and listen . And a few years from now , the pros and cons of increased globalization will yet again make their way higher up the political agenda ; for better or worse . The T-TIP is ambitious . Perhaps a little too ambitious , you could argue , with the goal of creating an open market for the region 's 700 million potential consumers . A move which economists reckon could add about half a percent of growth to both economies by 2027 . Yet any deal will require endless negotiations , consultations with huge swathes of industry , hours clocked up in red-eye flights and much late-night quibbling over health and safety and agricultural trading directives among a myriad other issues . Eurocrats will be sorely disappointed if Barack Obama does not set a clear agenda on this topic in his address . EU Trade Commissioner Karel De Gucht told me at a gathering organized by the German Marshall Fund that any trade deal worth having would have to be `` ambitious . '' Still , as various rounds of failed WTO negotiations have taught us , there is no use in putting too many issues on the table or nothing will be achieved . To see the light of day , the pact will have to accomplish three broad things . First governments will have to sell the concept to their people and convince them of its economic benefits . Research conducted by the European Commission estimates an open trans-Atlantic area could add 214 billion euros in extra growth for both parties . Secondly the partnership affords both sides an opportunity to tackle superfluous red tape , harmonizing existing rules and regulations , providing a new framework for drafting future legislation . Where the T-TIP pact will really make a difference is on its third goal : investment . Both economies currently enjoy $ 4 trillion of such money flows , supporting 7 million jobs . If the free trade zone were to give business leaders the confidence to see a clearer , less bureaucratic trade climate , such figures would multiply fast . So that 's the theory but what about the practicalities ? Smashing subsidies , eliminating other non-tariff and tariff barriers to trade will be unpopular , especially with so called special interest sectors like chemicals and cars , each deploying their formidable trade lobbies at each twist and turn . To be effective any new rules will also have to govern new , complex and intangible commodities , like data , and balance Europe 's hunt for new energy providers with America 's desire to keep its oil surplus to itself . The initial stages of the free trade zone are unlikely to be passed until after the U.S. midterm elections . Even then , selling the concept to an increasingly protectionist congress will be tricky . And all the while , the European Parliament is coming up for its own vote in May , further delaying the T-TIP timeframe . Yet the opportunity cost to the world 's most influential alliance of not formalizing its lucrative partnership at a time when other deals are being struck elsewhere would leave both sides wrong-footed . The trans-Atlantic relationship needs a new purpose . Although the two may not exactly be celebrating their diamond anniversary , it 's time to renew those vows and start thinking about the putting something extra in the pension fund . And where better to start than with more trade . Read more from Nina dos Santos : . Russia sanctions : EU should leave trade alone . Scotland and England : Better together or more affluent apart ?
Barack Obama to visit Brussels , the de facto `` home '' of the EU , for the first time this week . CNN 's Nina Dos Santos says Obama should use the trip to revitalize relations between the U.S. and the EU . Trans-Atlantic links have been damaged by allegations the U.S. spied on its European friends . The Transatlantic Trade and Investment Partnership may help reinvigorate the relationship .