Progress achieved in dismantling barriers to the markets of six strategic economic partners – China, India, Japan, the Mercosur, Russia and the USA – has been described in a new report by the European Commission.
The second Trade and Investment Barriers Report highlights some success stories in the removal of certain trade barriers, such as in India, but also underlines the overall persistence of barriers for European business to access these key markets.
Dismantling these barriers would improve and open up new export and investment opportunities for European companies and people, the Commission argues.
“With protectionism an ever-present threat, we need to make sure that trade remains open in order to boost jobs and growth,” EU Trade Commissioner Karel De Gucht explained. “Today’s report shows that our enforcement strategy is paying off in fighting unfair barriers to trade and investment; yet, we need to strengthen our vigilance and double our efforts in order to make sure that openness is maintained worldwide.”
The latest report assesses the progress achieved on the 21 barriers that were identified in 2011 in the first edition.
It also identifies six new priorities: in China, the national security review mechanism for mergers and acquisitions involving foreign investors and export financing and subsidies; in India, the National Manufacturing Policy; in Brazil, the tax on industrial products (IPI) and import procedures for textiles and clothing; and in Argentina, the restrictions on reinsurance services.
The Trade and Investment Barriers Report is part of a broader enforcement strategy that aims to ensure that the EU’s trade partners abide by their commitments and maintain open markets.
The purpose of the report is to focus attention on efforts needed – including at the highest political level – to ensure market access for European companies in these important markets.
Click here for the full report.
