EU Trade Agreements: first report
The implementation and enforcement of EU Trade Agreements is strengthening the EU's capacity to defend its key interest
On 27 October 2021, the European Commission released their first annual report on Implementation and Enforcement of EU Trade Agreements. The report focus on four main priorities over the past years for 1. Making full use the opportunities provided by EU trade agreements; 2. Supporting the take-up of trade agreements by Small and Medium-sized Enterprises (SMEs); 3. Addressing barriers and finding solutions; and 4. Bilateral and multilateral enforcement of trade commitments: Resolving Disputes. Efforts made by the European Commission to improve and facilitate trade resulted in an additional €5.4 billion to EU exports in 2020. By eliminating trade barriers, tackling unfair trade practices and adopting measures for trade and sustainable development this result was achieved. With further legal instruments the Commission strengthens EU's capacity to protect its open strategic autonomy and its key interests. In 2020, the Commission successfully removed 33 trade barriers in 22 partner countries. The online platform Access to Markets was launched, facilitating export beyond EU borders for SMEs. A Single Entry Point complaints system where companies and stakeholders can file a complaint for trade barriers or violation of sustainable trade commitments. As of now, 29 complaints are being investigated by the Commission. The implementation of the Foreign Direct Investment screening mechanism for investments into the EU which allows Member States and the European Commission to issue comments. However, the country subject to the investment holds the last word unless the investment affects the EU where the Commission will have greater authority. Further steps have been made to defend EU's interests by the update of export control rules in September 2021. A new anti-coercion legislative proposal is being prepared by the Commission which will allow them to apply investments and trade restrictions to non-EU countries interfering in policy choices of European Members Sates. An International Procurement Instrument to help ensure equal opportunity ion the global procurement market was proposed by the Commission to the European Parliament and Council. A presentation of the first consolidated annual report on implementation and enforcement of EU trade agreements will be given by Chief Trade Enforcement Officer (CTEO) Mr. Denis Redonnet on November 8, 2021 via WEBEX. To view the presentation it is required to register before the 3 November. For more details click here. Source: EU exports boosted