Brussels (Financial Times) -- Brussels wants the rest of the world to adopt the European Union's regulations, the European Commission will say this week.

A Commission policy paper that examines the future of the bloc's single market says European single market rules have inspired global standard-setting in areas such as product safety, the environment, securities and corporate governance.

"Increasingly the world is looking to Europe and adopts the standards set here," the paper, seen by the Financial Times, says.

The paper calls on the EU to encourage other jurisdictions to follow suit - for example by "promoting European standards internationally through international organization and bilateral agreements".

This strategy, it claims, will help European businesses beat their rivals abroad since it "works to the advantage of those already geared up to meet these standards".

The EU's drive to establish itself as the pacesetter for worldwide business regulation could well lead the bloc into conflict with the U.S. and other trading partners. U.S. officials have often voiced concern about the bloc's growing clout as a global standard-setter, and the two sides have clashed over issues such as rules for the chemicals industry and the EU's stance on genetically modified foods.

The two sides are set this week to discuss a road map to a transatlantic market, harmonizing regulations, at a meeting between José Manuel Barroso, Commission president, and Senator Bob Bennet of the U.S.

The two sides have very different regulatory philosophies. The EU puts heavy emphasis on consumer protection and environmental legislation while the U.S. tends to promote a more market-based approach. Some critics of the European approach argue that the EU's stance on issues such as GM foods may also reflect a desire to protect commercial interests.