WASHINGTON (Reuters) - The White House on Wednesday formally notified Congress of its plans to begin free trade talks with the 27-nation European Union, an effort to build on the world's largest trade and investment relationship to spur new economic growth.

"A high-standard comprehensive trade agreement with Europe is something that will be enormously beneficial for the U.S. economy and the EU in terms of creating new export opportunities (and) boosting jobs," Acting U.S. Trade Representative Demetrios Marantis told reporters at the U.S. Foreign Press Center.

President Barack Obama announced plans to negotiate the agreement in his annual State of the Union speech to Congress in February. But U.S. practice is for the administration to send lawmakers a formal notification at least 90 days before beginning talks.

(Reporting by Doug Palmer; Editing by Sandra Maler)