Brussels, 11 September 2024
In a new paper published today, BusinessEurope has stressed that the EU must use the new legislative cycle to reboot its trade agenda. BusinessEurope Director General Markus J. Beyrer said:
“During the next institutional cycle, we call on EU leaders to adopt a trade agenda that is proactive, creative and forward-looking. To rebalance the focus placed in recent years on its defensive toolkit, the EU must develop an ambitious diversification strategy.
This requires a creative approach, as one size does not fit all when it comes to the EU’s trading relationships. The EU should pursue a new generation of bilateral arrangements with third countries, proposing a wide range of options and instruments to partners. This should include: fully-fledged trade agreements, sectorial agreements for willing sectors, partnerships on digital, critical raw materials or regulatory cooperation, and initiatives under the Global Gateway. The EU must tailor its approach to the level of development of partner countries and reduce ambition when necessary. A more extensive use of ‘cumulation of rules of origin’ for willing sectors should also be considered, along with open trade agreements that allow third countries to join.
Relations with our two most important trading partners – the United States and China – will also play a crucial role in ensuring the EU’s future competitiveness. Regarding the Transatlantic relationship, the costs of doing business across the Atlantic should be reduced, for example, via a mutual recognition agreement on conformity assessment. When it comes to China, the EU should be assertive and united in protecting its economic interests. At the same time, there must be continued engagement with China on foreign policy, trade and investment.
Finally, the EU must remain committed to the WTO and work to ensure its sustainability into the future. Despite its challenges, the WTO remains a safety net for companies that depend on a rules-based and enforceable trade regime to operate.”
To read and download BusinessEurope’s full publication, click here.
Further position papers published by BusinessEurope:
11/09/2024
Third-party litigation funding (TPLF): contribution to the European Commission study
02/09/2024
25/07/2024
Priorities for the EU transport sector beyond 2024 – a BusinessEurope position paper
24/07/2024
18/07/2024
Better regulation in the new legislature – a BusinessEurope position paper
17/07/2024
17/07/2024
Championing Open Trade for a Prosperous Future – EU Business Joint Declaration
15/07/2024
EU environmental policy – BusinessEurope priorities for 2024-2029
10/07/2024
EU circular economy policy – BusinessEurope priorities for 2024-2029
10/07/2024
EU sustainable finance – BusinessEurope priorities for 2024-2029
10/07/2024
EU research and innovation – BusinessEurope priorities for 2024-2029
10/07/2024
04/07/2024
Energy and climate transition: How to strengthen the EU’s competitiveness
04/07/2024
Budapest declaration – BusinessEurope’s Council of Presidents
28/06/2024
25/06/2024
Priorities for the future of the EU state aid framework
20/06/2024
EU Action Plan on Labour and Skills shortages – a BusinessEurope position paper
14/06/2024
03/06/2024
Business views on a European economic security strategy – a BusinessEurope position paper
30/05/2024