The approval by the European Parliament of the free trade agreement (FTA) between the EU and New Zealand is a significant achievement for the EU trade policy ambitions and for European competitiveness. We now call on the Council to ratify this deal before the end of the mandate. This deal shows that the EU can still be a credible and attractive trading partner and can deliver on its commitments to openness, diversification and stronger relationships with reliable third countries, in particular in such a strategic region like the Asia-Pacific one.
EU-New Zealand Agreement: EP vote is a step further towards a stronger role of the EU in the Asia-Pacific
The approval by the European Parliament of the free trade agreement (FTA) between the EU and New Zealand is a significant achievement for the EU trade policy ambitions and for European competitiveness. We now call on the Council to ratify this deal before the end of the mandate. This deal shows that the EU can still be a credible and attractive trading partner and can deliver on its commitments to openness, diversification and stronger relationships with reliable third countries, in particular in such a strategic region like the Asia-Pacific one.
Many other fundamental FTAs remain now to be concluded and ratified during this institutional cycle, like FTAs with Mercosur, Mexico and Chile and Australia. AmCham EU also stresses the need to make substantial progress on FTAs with India, Indonesia and Thailand, while also reengaging in negotiations with Philippines and Malaysia. Given the upcoming European elections and the WTO Ministerial Conference in 2024, it is more urgent than ever for the EU to boost both its bilateral trade agenda through FTAs with reliable countries and improve the business environment in the EU, as well as to bolster its engagement at multilateral and plurilateral level to strengthen the international trading system.
Read more about AmCham EU’s recommendations on the crucial role that an open EU trade policy agenda can play in supporting economic growth, societal development, supply chain resilience, green and digital transition and competitiveness.
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‘AmCham EU opposes broad-based tariffs. However, given political priorities on both sides of the Atlantic, we still see the Framework Agreement as the most realistic route to securing a more constructive EU-US trade and investment climate’, Mr Lohan added. ‘We call on the Parliament and Member States to conclude trilogues swiftly. Once the tariff reductions are approved, the EU and the US can get back to advancing the cooperation the Framework Agreement envisages on a range of areas that benefit European and American businesses alike. We look to both sides to continue honouring their commitments throughout this process.’
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