However UKIP MEP Gerard Batten said people wanted "maximum standards not minimum standards" on mutual recognition.
They will examine whether they can agree on mutual recognition of the other's regulation.
The EU principle of mutual recognition means that many civil rulings can be enforced across borders.
But the officials also say that very little would be gained by suspending mutual recognition.
Some countries are now trying to get round these problems by harmonisation or mutual recognition of standards.
This established the principle of mutual recognition: that goods sold in one member state could be sold in all.
This falls short of mutual recognition, but is a step in that direction.
Although Washington has cautiously welcomed the idea, such proposals as mutual recognition of sanitary and safety standards will be difficult to sell.
Internal Market Commissioner Michel Barnier said that 100, 000 Europeans had benefited from the mutual recognition of qualifications, but that "the potential was much greater".
The summit's last minute provisional deal on a framework for such mutual recognition was a relief to businessmen who have been pressing hard for it through a transatlantic business dialogue.
This has some similarities to the European Union's system of mutual recognition of member countries' securities regulations although the European approach does not encourage firms to switch from one country to another.
Its advocates claim that putting Jewish restitution on the table is not only a question of justice, but could help solve the Israeli-Palestinian conflict by leading to mutual recognition of the plight of each side's refugees.
"I think that today marks a real dawning of an era...of mutual recognition and mutual respect for data protection and privacy framework on both sides of the Atlantic, " said Nuala O'Connor Kelly, chief privacy officer for the U.S. Department of Homeland Security.
Despite the concerns over language, MEPs were broadly supportive of the rules on mutual recognition and called for the time taken to recognise the qualifications of EU professionals such as doctors and engineers applying to work in another member state to be sped up.
What America and the international community can do is to state frankly what everyone knows -- a lasting peace will involve two states for two peoples: Israel as a Jewish state and the homeland for the Jewish people, and the state of Palestine as the homeland for the Palestinian people, each state enjoying self-determination, mutual recognition, and peace.
Recognition of this diversity can accelerate mutual understanding and crafting a common space around shared values.
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