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Ceturtdiena 21.06.2018 | Name days: Monvīds, Egita, Emīls
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EC should focus on informing about simplification of trade regulations

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU«To make it possible for businessmen to use opportunities provided by free trade, even the European Commission should focus more on ensuring that information about simplification of trade regulations,» says Foreign Affairs Ministry’s parliamentary secretary Zanda Kalniņa-Lukaševica.

The ministry reminds that during a meeting of the EU Foreign Affairs Council on Common Commercial Policy was held in Brussels on 10 November. Latvia was represented by Kalniņa-Lukaševica at this meeting. Member states were presented the first comprehensive look on the application of EU trade agreements and proposals to encourage more active use of trade advantages.

It is concluded in European Commission’s prepared report that one of the reasons for partial use of trade advantages is lack of knowledge when it comes to EU trade agreements. This is why it is important to provide comprehensive information about trade opportunities in third countries. The EC and member states should participate in this process.

The recent improvements made for access options to the EC Market database and the section detailing EU-Canada Comprehensive Economic and Trade Agreement is also welcome. At the same time, EC has to continue active work on improving other EU trade agreements.

In regards to the use of EU free trade agreements’ offered opportunities in Latvia, there are positive developments noticed. For example, ever since the establishment of the EU-South Korean trade agreement in 2011, Latvia’s exports to South Korea have more than quadrupled – from EUR 9.5 million in 2010 to EUR 48 million in 2016. Imports, on the other hand, have grown more slowly.

Trade Commissioner Cecilia Malmström provided topical information on trade talks with Japan. She said there is hope to conclude talks before the end of the year. Japan is EU’s second largest trade partner in Asia. Signing this agreement will help strengthen economic ties with Japan and the Asian region.

After the presentation by the trade commissioner about talks with Mexico and Mercosur countries, Latvia also voiced the necessity to take into consideration the interest of the more sensitive industries in Europe.

The meeting also discussed EU’s position and priorities for WTO 11th Ministers Conference in Buenos Aires, Argentina. During the discussion, Kalniņa-Lukaševica said: «EU has to continue working proactively to reach an agreement with specific initiatives in fisheries and agriculture at the upcoming conference in Buenos Aires. It is also important for Latvia that the WTO conference addresses the organizational role for matters of e-commerce and more efficient work of small and medium-sized companies on international markets. It is important to make sure that WTO work fits the current economic reality and secures new opportunities for businessmen.»

Ref: 224.109.109.2509


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