Brussels, 14/10/2015 (Agence Europe) - The European Commission's new trade and investment strategy, which was unveiled on Wednesday 14 October, is based on a more responsible approach and gives priority to markets in the Asia-Pacific region.
This strategy was presented by European Commissioner for Trade Cecilia Malmström and aims to make trade policy more responsible. It is based on three key principles - effectiveness, transparency and values. “Europeans know that trade can deliver jobs, growth and investment for consumers, workers and small companies. And they want more of those results. But they don't want to compromise on core principles like human rights, sustainable development around the world or high quality regulation and public services at home. And they want to know more about the negotiations we carry out in their name”, Malmström said.
By effectiveness, the Commission means making sure trade actually delivers on its promise of new economic opportunities by addressing the issues that affect today's economy - an economy dominated by services and digital trade. The Commission also wants to provide the means and information necessary to ensure consumers and workers can take full advantage of - and adapt to - more open markets, which is happening, for example, through the inclusion in future trade agreements of effective arrangements for SMEs, the Commission states.
By transparency, the Commission means opening up negotiations to more public scrutiny by publishing key negotiating texts from all negotiations - as has been done in the EU-US free trade (TTIP) negotiations since Malmström took up office as trade commissioner.
By values, the Commission means safeguarding the European social and regulatory model, and using trade agreements and preference programmes to promote European values around the world - values like sustainable development, human rights, fair and ethical trade, and the fight against corruption. This means including rules in the EU's trade agreements on trading partners being obliged to implement provisions on fundamental labour standards (such as the rights of workers to organise, and abolishing child labour), and redoubling efforts to ensure responsible management of supply chains.
To support this more responsible approach, the Commission is proposing an up-to-date programme of trade negotiations that can help shape globalisation in the direction of EU values.
The top priority is given to concluding big ongoing projects - such as the Doha Round at the WTO, TTIP, the EU-Japan free trade agreement, and the EU-China investment agreement.
In the “vital” Asia-Pacific region, the Commission is proposing also to open free trade negotiations with Australia, New Zealand, and two other partners from the ASEAN bloc (Association of South East Asian Nations) - the Philippines and Indonesia. Furthermore, the Commission wants to work on relaunching bloc-to-bloc negotiations with the ASEAN (which were broken off in 2009), based on bilateral agreements that have already been concluded with countries from this region (Singapore and Vietnam), or that are in the process of being negotiated (Burma/Myanmar, an investment agreement), or that are on hold (Malaysia and Thailand). In addition, the Commission wants to assess the possibility of launching negotiations for an investment agreement with South Korea, as part of a review of the free trade agreement in force since 2011, and to assess the possibility of investment agreements with Hong Kong and Taiwan.
The Commission also wants to redefine the trade relationship between the EU and Africa by ensuring that the economic and partnership agreements (EPAs) are well implemented, by deepening the EPAs with partners that would like to do so with revision clauses on services and investment, and by planning investment agreements with key African economies.
With Latin America, the Commission wants to conclude free trade negotiations with Mercosur, to modernise the current agreements with Mexico and Chile, and to assess the possibility of investment agreements with some key South American economies.
In addition, the Commission wants to develop a closer partnership with Turkey by modernising the customs union agreement that links the two partners.
In the light of the migration challenge on a global level, the Commission wants to improve the synergy between the EU's trade policy and the action plan on returns and readmission for illegal migrants, and, where relevant, facilitate the issuing of visas. (Original version in French by Emmanuel Hagry)