Eu wants to review corona crisis trade policy

EU wants to review Corona crisis trade policy

The eu wants to review its trading policy because of the economic consequences of the corona pandemic. The aim is to find the right balance between a europe, the "open" is and a europe that protects his burgers and companies, said eu trading commissioner phil hogan on tuesday at an online meeting of eu states’ trade ministers. For example, it should be ensured that the eu has the right instruments to protect against unfair competitive practices.

Crisis-resistant

To check the eu trade policy, from mid-july, the conversation with eu parliamentarians, companies and representatives of civil society are to be carried. These will be about questions about topics such as crisis-resistant value chains, sustainability, digitization and support for smaller and medium-sized enterprises.

Federal minister of economics peter altmaier (cdu) said about the eu talks that the crisis had disclosed the vulnerability of global supply chains, such as medical protection rates. "We therefore have to give the companies the opportunities to expand and diversify their trade and delivery relationships, ie to put multiple legs", he asked. Altmaier stressed the importance of the world trade organization. "For this we need a strong wto", he said.

Hogan also reported to the usa to work closer together in the corona crisis. However, these have so far been to little resonance at the other side, he said.

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