Against a background of uncertainty internationally with Brexit, possible American disengagement and the threat of protectionism, EU heads of state and/or government reaffirmed their support at the European Council of 9 and 10 March for free trade and the multilateral trade system governed by the WTO.
“Trade remains one of the most powerful engines for growth, supporting millions of jobs and contributing to prosperity”, state European leaders in conclusions approved by all except Poland.
The leaders of the European Council welcome the “positive vote” in the European Parliament on 15 February on the EU-Canada comprehensive economic and trade agreement (CETA) that was signed on 30 October 2016 and look forward to its “imminent” provisional application.
CETA, they say, provides “a clear signal” at a time when protectionist tendencies are re-appearing and reaffirms that the EU remains “strongly committed” to a “robust” trade policy and an open and rules-based multilateral trading system, with a “central role” for the WTO.
EU leaders restate the need for the EU to equip itself with modernised, WTO-compatible tools to tackle unfair trade practices and market distortions and call for the “quick adoption” of the relevant proposals in this respect and of the proposed new method of anti-dumping calculations to settle the issue of how China should be treated in EU anti-dumping investigations after the appropriate provisions of China’s WTO accession protocol expire.
The Council says the EU will continue to “engage actively” with international trade partners and is, it says, “resolutely advancing” on all ongoing negotiations for “ambitious and balanced” free-trade agreements, highlighting talks with Japan, which are “closest to an early conclusion” and, at the request of Spain and Portugal, those with Mercosur and Mexico. “2017 offers an excellent opportunity as Latin America is looking more than ever towards Europe”, stated Spanish Prime Minister Mariano Rajoy. The leaders called for relations with China to be strengthened “on the basis of a shared understanding of reciprocal and mutual benefits”.
Lastly, EU leaders make clear that, in opening up commercially, the EU will be “particularly vigilant” about “respect and promotion of key standards”.
“Leaders confirmed the EU’s unequivocal position on trade. Europe remains the champion of open, rules-based trade. Not least due to signs of protectionism emerging elsewhere”, commented European Council President Donald Tusk. (Original version on French by Emmanuel Hagry with Camille-Cerise Gessant)