European Commission Daily News 19th Feb

COLLEGE MEETING: Commission defines open, sustainable and firm trade policy for the European Union

The European Commission yesterday presented its trade strategy for the coming years. Reflecting the concept of open strategic autonomy, it builds on the EU’s desire to contribute to economic recovery by supporting ecological and digital transformations, as well as by re-emphasizing the strengthening of multilateralism and reform of world trade rules to make them fair and sustainable. If necessary, the EU will take a stronger stance in defending its interests and values, including through new instruments. To address one of the greatest challenges of our time and meet the expectations of European citizens, the Commission is placing sustainability at the heart of its new trade strategy, in support of the fundamental transformation of the EU economy for that it becomes neutral for the climate. This strategy includes a series of main actions aimed at strengthening the rules of world trade and contributing to the economic recovery of the EU. Speaking on the new strategy, Valdis Dombrovskis, Executive Vice President and Commissioner for Trade, said: “The challenges we face make a new strategy for EU trade policy necessary. We need open, rules-based trade to help restore growth and create jobs after the COVID-19 pandemic. Trade policy must also fully support the ecological and digital transformations of our economy and steer global efforts to reform the WTO. It should also give us the means to defend ourselves when we are faced with unfair trade practices. We follow an open, strategic and firm approach, which emphasizes the EU’s ability to make its own choices and to shape the world around it through its leadership role and commitment, to the light of our strategic interests and values. More information is available in the press release and the questions and answers.

Read the European Commission Daily News in full here.