Fostering growth through international trade

Why?

European trade policy should serve to strengthen Europe’s manufacturing base. Trade is a clear source of potential growth, but it needs the right environment in which to deliver the benefits.

How?

• Maintain a comprehensive approach to trade policy that covers tariff elimination, the removal of non-tariff barriers and regulatory cooperation.
• Negotiate and conclude trade agreements only where there are mutually-anticipated benefits, or a ‘level playing-field’.
• Carefully assess both the individual and the cumulative impacts of free trade agreements (FTAs) on the EU economy.
• Align Europe’s trade and industrial policies.
• Encourage the uptake by third countries of UN Regulations, in an effort to harmonise standards and to reduce the cost of placing automotive products on foreign markets.
• Ensure the systematic and regular monitoring of the implementation of FTAs.
• Eliminate any restrictions on exports and supplies of raw materials.

Examples

• Maximise the potential of the Transatlantic Trade and Investment Partnership (TTIP) by dismantling tariffs and achieving regulatory convergence with the US. Improve international harmonisation through the Global Technical Regulation process.
• Create full regulatory convergence with Japan based on UN Regulations, so that a vehicle or powertrain certified in Europe can be sold in Japan without the need for further testing, certification, marking or modification.
• Carefully assess the implementation of the EU-South Korea FTA to ensure it is executed fairly and correctly.
• Create a level playing field for European manufacturers in emerging markets such as China.