The European Union wants to reform the World Trade Organization, which includes climate obligations

The European Union wants to reform the World Trade Organization, which includes climate obligations

Open strategic autonomy. This is the view behind the review of EU trade policy presented in Brussels this Thursday.

The EU’s trade strategy for the coming years is based on opening up the European region to contribute to the economic recovery, but its vectors are in favor of a shift towards a ‘green’ and more digital economy. Brussels speaks of “renewed focus on strengthening diversity” and “reform” of global trade rules to “ensure that they are fair and consistent”. Finally, the European Commission (EC) insists that it will “take a very firm stand in safeguarding its interests and values, including through new tools” when needed.

In summary, “The Commission places sustainability at the heart of its new trade strategy and supports fundamental change in its economy as climate-neutral,” reads an Election Commission press release.

How does this come about? The Electoral Commission wants “strong global trade rules.” To this end, it is “a major reform of the World Trade Organization, including global trade and climate obligations, new rules for digital trade, strengthened rules for overcoming competitive distortions and restoration of its structure to resolve disputes.” , Emphasizes Brussels.

“The challenges we face require a new strategy for EU trade policy,” said Valdis Dombrovsky, executive chairman of the Electoral Commission and trade commissioner. He added: “We need open, rule-based trade to restore growth and employment after Govt-19.” At the same time, the Commissioner points out that “trade policy must fully support the green and digital transformation of our economy and lead to global efforts to reform the World Trade Organization.” It goes on to say: EU trade policy “must also provide us with the tools to defend ourselves against unjust trade practices”.

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Overall, “we pursue an open, strategic and concrete path, emphasizing the EU’s ability to make its choices and shape the world around it through leadership and commitment, reflecting our strategic interests and values.”

Support for green and digital transformations will be achieved by helping to achieve the objectives of the “European Green Agreement”; And the removal of unjustified trade barriers in the digital economy, the EC points out.

Brussels points to batteries to further strengthen the Atlantic federation, as well as a greater focus on neighboring countries and Africa.

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