European Commission Prepares to Clear WTO

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NUSADAILY.COM-JAKARTA- The European Commission is putting its fight against climate change at the heart of their new trade strategy. It was launched on Thursday (2/18/2021), which also set out plans to fix the World Trade Organization (WTO).

“The challenges we face require a new strategy for EU (EU) trade policy. We need rules-based open trade. To help restore post-COVID-19 growth and job creation,” EU Head of Trade Valdis Dombrovskis said as he unveiled the new policy.

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“It will also give us the tools to defend ourselves when facing unfair trade practices. We are pursuing an open, strategic and decisive direction. Emphasizing the EU’s ability to make its own choices and shape the world around it,” he added.

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As part of the new plan, the E.U. wants “major reforms” of the WTO. This includes global commitments to trade and climate, new rules for digital trade. Tightened rules to address competitive distortions. And restore the system to binding dispute resolution.

This new strategy builds on eu openness to contribute to economic recovery. Through support for green (environmentally friendly) and digital transformation. As well as a renewed focus on strengthening multilateralism and reforming global trade rules. This is to ensure the rules are fair and sustainable, the European Commission said in its statement. (cak)