Conservative International Trade Spokesman Hails EU Trade Charge.
Brussels, 27th June 2012 – Yesterday, three major trade announcements were hailed by the European Commission in Brussels.
First to come of the press was the announcement that the EU had signed an ambitious and comprehensive Trade Agreement with Colombia and Peru. Once the agreement is fully implemented, it has been estimated that this trade agreement will save EU exporters some €270 million in duties every year and it will increase the openness of the markets of both parties, as well as increasing the stability and predictability of this trading relationship.
Secondly, the Commission announced that negotiations had formally begun withVietnamfor a Free Trade Agreement (FTA).Vietnamis the EU 5th largest trading partners with bilateral trade between the two worth some 18 billion euros last year. At present the EU has negative balance of trade withVietnambut the negotiation of better access for EU exporters to the dynamic ASEAN market will help to rectify this and has been identified as a priority under the 2006 Global Europe trade strategy.
Finally, the Commission announced that the ongoing negotiations withIndiawere progressing at a satisfactory pace towards the envisaged and ambitions EU-India Free Trade Agreement. Both the EU Trade Commissioner Karel De Gucht and his Indian counterpart, Indian Commerce Minister and Sharma, announced that they were making good progress and that both sides were keen to push for results that are mutually acceptable. Further ministerial meetings are due to held before the end of the year.
Conservative spokesperson on International Trade and Vice Chairman of the European Parliament’s International Trade Committee, Robert Sturdy heralded
“I welcome the news that the EU is making progress it its pursuit of trade agreements with some of the most dynamic markets in the world. By 2015, 90% of economic growth will take place outside of Europe so these develops are not only welcomed but they are essential if the EU is to maintain its position as the world’s largest trading bloc”
“The agreement with Columbia and Peru represents a wind of change and has the potential to usher in similar agreements with the EU’s other Latin American partners. Similarly, a future agreement with Vietnam has great potential and I will be following its developments closely with great anticipation.”
“The same cannot be said of a future EU-India Agreement. Despite the photo ops and flowery diplomatic language, in negotiations so far the Indian government has not met the EU half way. They must drastically change course if any agreement is to become a reality.”
For further information contact:
Robert Sturdy MEP– firstname.lastname@example.org
Tel: 01954 211790 or 0032 2284 7294 or visit: robertsturdymep.com