Taking into consideration the foreign policy of the EU, the new approach of the trade and invest-ment strategy was presented to the European Commission in Brussels. This shall ensure that the common trade policy will benefit as many people as possible. The approach is based on the princi-ples of effectiveness, transparency and values.

Effectiveness shall ensure that the new economic opportunities promised by trade will be created. Apart from responding to the problems of today's economic realities, funds and information will be made available to help small and medium-sized enterprises (SMEs), consumers and workers to exploit all benefits of the market and to adapt accordingly.

Important negotiation texts shall be published for the purpose of transparency in order to enable stronger public control.

With regard to values, the intention is to retain social and legislative models domestically on the one hand and to use trade agreements and schemes of preferences as levers to establish European values globally. Sustainable development, human rights, fair and ethical trade, tackling corruption and provisions on core labour standards (such as the right to organise and the removal of child labour) have been quoted as examples.

Apart from that, the more responsible EU trade strategy shall be used to bring up to date the programme for trade negotiations. Meant by this is the conclusion of important ongoing projects (for example the Doha Round within the framework of the WTO talks, TTIP, free trade agreements between Japan and the EU as well as the investment agreement between the EU and China). New negotiations within the Asia-Pacific Region are also being pursued, as is deepening the relationship of the EU to African Partners and modernising the existing free trade agreements with Mexico and Chile and the Customs Union with Turkey.

The foray of the European Commission can be viewed as a response to the current intensive discussion on trade policy – keyword TTIP and other free trade agreements. To which extent the principles will be adhered to remains to be seen; it will be the responsibility of the stakeholders to claim these values. Hence, the question arises with regard to transparency, who will select the documents to be published.

Thus, this new trade policy strategy represents a challenge for the stakeholders to pay particular attention to and to claim any further developments and the implementation of the basic principles.

Further information:

Press release from the European Commission

Further Details on the European Commission's Webpage