The European Union and the United States have concluded negotiations to adjust the European Union’s World Trade Organization (WTO) agricultural quotas, following the UK’s withdrawal from the EU.
This is the culmination of two years of negotiations in the WTO framework to divide these EU quotas, with part of the volume remaining with the EU-27, and part going to the UK, based on recent trade flows. The agreement covers dozens of quotas and billions of euros of trade including for beef, poultry, rice, dairy products, fruits and vegetables and wines.
Commenting on the agreement reached in principle today, Commissioner for Agriculture Janusz Wojciechowski said: “I am delighted we have reached agreement with our most important trade partner the U.S. This agreement – done inside the framework of the WTO – preserves the original volumes but shares them between the EU and the UK. It gives certainty and stability to agricultural trade and our markets. I am particularly pleased that this agreement marks the significance of our trade and economic relationship. This sends a good signal of our commitment to work together both bilaterally and in the WTO framework. I want to thank my team and our U.S. colleagues for a job well done”.
Once the Commission has adopted the EU-U.S. Agreement, it will then be sent to the European Parliament and the Council for ratification, so that it can enter into force as soon as possible.
A press release is available online.