Industry, Foreign and Economy ministers from 15 EU Member States co-signed a letter to the European Commission on Tuesday 21 June calling for new bilateral and regional trade deals to make better use of the EU’s “potential to shape the global trade agenda and its rules”.
Against the backdrop of the war in Ukraine, the signatories stress the need to “shore up alliances through trade” while welcoming the discussions and progress on transatlantic cooperation in the Trade and Technology Council (TTC).
In addition, the ministers call for work to be accelerated on the conclusion and implementation of negotiated trade agreements to ensure that the EU can access key foreign markets and strengthen its geopolitical position.
“One out of seven EU jobs depends on exports – two thirds more than in 2000. But there is no time for complacency. The EU’s process with regard to trade agreements – negotiating, signing and entering into force – is too long”, say the ministers from the 15 Member States, including Germany, Italy, Spain, Latvia and Sweden.
Furthermore, the signatories believe that investment protection agreements should also contribute to climate policy objectives and be formulated in a way that safeguards the right to regulate.
“The EU needs to urgently continue to pursue an open and fair international trade policy”, the ministers conclude, while the EU’s trade agreements cover only about one third of external trade.
See the letter: https://aeur.eu/f/285 (Original version in French by Thomas Mangin)