Debate: Trade-related aspects and implications of COVID-
Date: MONDAY, 5 JULY 2021
Speaker: Dubravka Šuica
Language: EN

I fully share your analysis about the special context in which the trade policy review is taking place. As you rightly pointed out, trade policy finds itself at a crossroads. This is why there is a need for a new EU trade and investment strategy. This must take into account the difficult current geopolitical reality, including the challenges of the COVID—19 crisis, and also those stemming from our ambitions linked to the green and digital transitions.  The new trade policy strategy is built on three pillars: openness, sustainability and assertiveness. The key challenge we face is to find the right balance between these three elements. On openness: reaffirming our commitment to open, fair and rules—based trade is not just EU idealism. It is an economic and political necessity. The competitiveness of our economy depends on it. This is particularly evident in the multilateral space. Again, I thank you for supporting our plans to lead an in—depth reform of the World Trade Organization.  It is in this spirit of openness that European Union has proposed that WTO members agree as soon as possible on a global trade initiative for equitable access to COVID—19 vaccines and medicines. The European Union also stands ready to support close cooperation between international bodies, especially the recently—announced intensified collaboration of the WTO, the World Health Organization and the World Intellectual Property Organization in fighting the pandemic.  In your report, you underlined the need for the European Union to enhance its strategic autonomy, notably to secure access to critical raw materials, goods and services, especially medical and pharmaceutical goods. This is a legitimate request that is supported by the openness of our economy. This is why the overarching concept guiding the strategy is the model of open strategic autonomy. To address today’s most pressing challenges, such as climate change and biodiversity loss or the COVID—19 crisis, we need more rather than less global cooperation.  A policy of open strategic autonomy will therefore allow the European Union to continue reaping the benefits of international opportunities, while at the same time assertively defending our interests, protecting our economy from unfair trade practices and ensuring a level playing field.  I welcome that sustainability is very much at the forefront of the European Parliament’s priorities in your resolution. This is in line with the new strategy, which represents a clear choice for a green and progressive trade policy. It puts the green transition and protection of labour rights at the very heart of European Union trade policy.  More concretely, I also agree with the view expressed by the European Parliament that we need to work further on issues such as fair, resilient and sustainable value chains, the enforceability of trade and sustainable development chapters, and the importance of delivering an efficient carbon border adjustment mechanism.  We shall also continue our efforts in promoting resource—efficient and circular economy models around the world through the trade levers. The dialogues on these issues will continue in particular during the review of the 15—point action plan on trade and sustainable development, which will be launched very soon. On assertiveness, I certainly agree with many of the points made in this resolution. In particular, I agree with the idea that our openness should go hand—in—hand with effective rules, ensuring fair competition and a level playing field for European businesses. I also agree with you that where cooperation is not possible, the European Union should pursue its interests through autonomous measures to protect its values and fight against unfair trading practices in accordance with international law.  So this is very much in line with our clear shift towards stronger implementation and enforcement and with the new instruments that we are proposing, such as the foreign subsidies instrument and the future anti—coercion instrument. Finally, I would like to emphasise that the Commission intends to build on the very positive trade policy review process and continue the dialogue and engagement on trade policy with all key stakeholders. I want to thank you, honourable Members.