Time to re-think the EU trade policy
17 May 2017
As of 2017, the EU has 44 trade agreements in place with more than 60 countries across the globe. In addition, five accords have been finalised but are not yet being applied (with East African countries, Ecuador, Singapore, Vietnam and West Africa).
Notwithstanding the EU’s comparative advantage in building trade relationships worldwide, the combination of competency issues between Brussels and Member States and rising discontent towards globalisation seriously risks undermining the Union’s Common Commercial Policy.
Thus, in order to avoid a worst-case scenario of paralysis and increasing irrelevance, European institutions and Member States should amend the 2009 Treaty of Lisbon by reviewing the mixed approach. This move will strengthen the 2015 “Trade for All Strategy” and will lead to a more effective and functional common commercial policy.
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