ICYMI: 🇪🇺 trade policy is a key pillar for the EU's Green Deal Industrial Plan presented by @EU_Commission President von der Leyen yesterday in Davos.
@Trade_EU is about facilitating open and fair trade for the benefit of all.
What does this mean concretely?
A 🧵 1/5
@Trade_EU is about facilitating open and fair trade for the benefit of all.
What does this mean concretely?
A 🧵 1/5
https://twitter.com/vonderleyen/status/1615302407071858688
Our bilateral trade agenda is ambitious. We are determined to
✅Make the most of existing trade deals
✅Conclude deals with 🇲🇽🇨🇱🇳🇿🇦🇺
✅Make progress with 🇮🇳🇮🇩
✅Restart conversation regarding the Mercosur agreement.
Full @vonderleyen speech here europa.eu/!dFN6kK
2/5
✅Make the most of existing trade deals
✅Conclude deals with 🇲🇽🇨🇱🇳🇿🇦🇺
✅Make progress with 🇮🇳🇮🇩
✅Restart conversation regarding the Mercosur agreement.
Full @vonderleyen speech here europa.eu/!dFN6kK
2/5
Bilateral trade partnerships need to be embedded in a set of rules for global economic relations in order to prevent fragmentation, the escalation of trade conflicts and "beggar thy neighbour" policies. If we did not have the #WTO, we would need to invent it now.
3/5
3/5
This is why #WTO reform is so important. We need to update the rules to better reflect the more active role of the state (i.e. industrial policies); to deal with the green + digital transformation; to create more transparency on the use trade tools for security objectives.
4/5
4/5
and last but not least: we need to restore a functioning #WTO dispute settlement system that works for everyone - the power of rules has to trump the rule of power. "Might is right" undermines global cooperation that is so essential for addressing today's global challenges.
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