EU's Support For Developing Countries

WTO Praises EU's Stance On Multilateral Trade And Support For Developing Countries

In its 9th review of the European Union's trade policy, the World Trade Organisation has praised the EU for its instrumental role in strengthening the multilateral trading system and its leadership in the Doha Round of world trade talks. The WTO report highlights the EU's efforts to help integrate developing countries into the international trading system. The report recognises the progress made over the last two years in consolidating EU's Internal Market, and notes the benefits of EU's reformed Common Agricultural Policy. The WTO meeting takes place in Geneva on 6 and 8 April 2009.

EU Trade Commissioner Catherine Ashton said: "The European Union will continue to show leadership on global trade and stand firm against protectionism. We need this commitment more than ever to promote trade and overcome the economic downturn. We are committed to multilateralism, to transparency, and to open markets based on rules that benefit developed and developing countries alike. "
The WTO acknowledged some key features of the EU's trade policy over the past two years:

• The EU has been a major driving force in the Doha negotiations and in the process of integrating developing countries into the multilateral trading system. These efforts include for example, negotiations for Economic Partnership Agreements with the ACP countries, the implementation of the reformed EU's Generalised System of Preferences (GSP) for developing countries, and the fact that the EU is the major sponsor of trade-related technical assistance within the Aid for Trade framework.


• The EU has consistently argued that a swift, ambitious and balanced Doha Round outcome is the best way to prevent trade protectionism and boost the economy in the current economic downturn.


• The EU is committed to keeping markets open and to fighting protectionism. The EU strongly supports the WTO initiative to report on trade related developments during the economic and financial crisis. It has actively contributed to this report, which aims at strengthening transparency in the WTO.


• Progress has been made in the liberalisation of the EU's internal market for services. Reforms of telecommunications and postal services stand out as significant achievements.


• The EU has made significant progress in implementing the reforms of the EU's Common Agriculture Policy. The WTO recommends pursuing this path further. The comprehensive agricultural offer made by the EU in the Doha Development Agenda negotiations would slash trade-distorting farm subsidies, eliminate all export subsidies and significantly cut its agricultural tariffs.


• The EU's preferential trade agreements are designed to complement the WTO system as they substantially liberalize trade in goods and services between the countries party to the agreement.

ENDS

© Scoop Media