The European Commission “is putting sustainability at the heart of its new trade strategy, supporting the fundamental transformation of its economy to a climate-neutral one”, reads a statement accompanying the document presented in Brussels today. The strategy includes “a series of headline actions that focus on delivering stronger global trading rules and contributing to the EU’s economic recovery”.
“Responding to current challenges, the strategy prioritises a major reform of the World Trade Organization – the Commission points out -, including global commitments on trade and climate, new rules for digital trade, reinforced rules to tackle competitive distortions, and restoring its system for binding dispute settlement”. Such a strategy should strengthen “the capacity of trade to support the digital and climate transitions”. “First, by contributing to achieving the European Green Deal objectives. Second, by removing unjustified trade barriers in the digital economy to reap the benefits of digital technologies in trade. By reinforcing its alliances, such as the transatlantic partnership, together with a stronger focus on neighbouring countries and Africa, the EU will be better able to shape global change”. The Commission also insists on the need to fight unfair trade. The strategy should deliver “negotiated benefits for its workers, farmers and citizens”.