EU Trade Commissioner Updates Ministers on Key Free Trade Progress
EU Trade Commissioner Maroš Šefčovič recently updated ministers on the progress of key free trade agreements. He reassured the US administration of the EU's commitment to strong trade relations, while Denmark's Foreign Minister, Lars Løkke Rasmussen, cautioned against overoptimism.
Šefčovič provided updates on negotiations with several countries and blocs, including India, Thailand, the United Arab Emirates, Malaysia, and the Philippines. He also briefed ministers on the status of agreements with Mercosur, Mexico, and Indonesia. Despite the EU's commitment to accelerating these processes, the Danish minister warned against naivety, stressing the need to protect the European market while forging new partnerships.
The Mercosur agreement, in particular, faces hurdles. Šefčovič acknowledged that its trade part requires approval from both the EU Parliament and Council. Given these procedural steps, it's unlikely the agreement will come into force this year.
The EU remains dedicated to advancing its free trade agenda, with Šefčovič's updates reflecting a proactive approach. However, as Rasmussen's warnings highlight, the path to these agreements is complex and requires careful navigation to protect European interests.
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