If President Obama’s plans for an ambitious free-trade agreement between the United States and the European Union are realized, the pact could provide outsized benefits for the economies of Massachusetts and New England, which already have strong ties to Europe, local business groups and employers said.

“It would open the doors for huge new increases in trade between Massachusetts and Europe,” said Jim Klocke, executive vice president of the Greater Boston Chamber of Commerce. “We’ll get more than our fair share of increased business.”