The European Commission will redouble its efforts to conclude new trade and investment agreements with a number of countries around the world, says EU Trade Commissioner Maros Sefcovic.
- We will do twice as much to complete the negotiations, because we know that countries around the world see the EU as a reliable and predictable trading partner, says Sefcovic.
He has been put in charge of negotiations with the Trump administration by the President of the European Commission, Ursula von der Leyen, on an agreement that could avert extensive US tariffs.
Sefcovic's statement can be read as an indirect criticism of Trump's USA for no longer being a "reliable and predictable" trading partner.
Wants to show that there are other options
That is why the European Commission has chosen to accelerate negotiations with a number of countries. In addition to sending a signal to Trump that the EU has other options than the US, new agreements may help offset a drop in exports to the US if negotiations end in a sudden clash with Trump's tariff wall.
Last week, Sefcovic held what he himself calls an "important meeting" with India in the attempt to reach a free trade agreement. On Monday, it was Indonesia's turn to meet with the EU Commission, which negotiates the agreements on behalf of the EU countries.
In addition, the EU Commission wants to conclude agreements with the Philippines, Thailand and Malaysia. A free trade agreement is also being negotiated with the United Arab Emirates. The EU Commission is also working on an agreement with South Africa and is expected to sign an agreement with Singapore on behalf of the EU this week.
- We must act without hesitation to make the EU a strong and cohesive economic area, says Maros Sefcovic.
Ultimately, however, the EU countries must approve the trade agreements, and this may slow down the EU Commission's attempts to open up more exports to markets other than the USA. For example, the EU Commission has already negotiated trade agreements with Mexico and the so-called Mercosur countries in South America. But the two agreements have not yet been ratified by the EU countries.
Large agricultural countries such as France and Poland are skeptical about opening their markets to agricultural products from South America.
- We have not quite reached our goal with the two agreements, admits Maros Sefcovic.
/ritzau/
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