President Barroso writes to the European Council on the contribution of trade to growth and jobs
The President of the European Commission, José Manuel Barroso, has written to his colleagues in the European Council ahead of their meeting later this week to underline the contribution that trade can make to boost growth and jobs in the European Union.
Attached to the President's letter is a detailed paper enclosed that summarises the rationale behind the EU's trade policy, the changing nature of the trade agenda and sets out the main policy orientations the European Union should consider for the future .
"Trade is an essential lever in our strategy to boost growth and jobs in the EU… In the future, 90% of world-wide growth is expected to be generated outside Europe", the President said. "Grasping the opportunities offered by these external sources of growth will be critical for the future dynamism and sustainability of our economy".
He added: "What is at stake is not just the capacity to maintain or expand market shares but also the ability of the EU to compete; to attract global investment and join global value chains; and to help our citizens and businesses to take up opportunities across the world.",
The President goes on to add that: "While preserving and reinforcing the centrality of the multilateral trading system is in our long-term strategic interest, in the current environment we must also be more proactive in our bilateral relationships."
He gave as an example the landmark agreements such as the EU-Korea free Trade Agreement and the concluded negotiations with Singapore. The Commission also expects to conclude shortly agreements with Canada and India and will start negotiations with Japan and the United States. "The importance of these strategic partners cannot be overstated", he said.
"While the EU overall is doing well in terms of global trade, the situation inside the EU differs from one Member State to another and between sectors and regions. We need to address these issues in our economic and structural policies, namely in the framework of the on-going reforms for competitiveness. And our commitment to open markets will continue to be upheld by our capacity to act against anti-competitive trade practices, through the appropriate instruments."
Read the letter [130 KB]