ICC publishes submission to the European Commission’s review of trade policy

Launched in June 2020, the European Commission’s Consultation on Trade Policy Review is an all-encompassing examination of the European Union’s (EU) trade policy settings. The consultation’s objective is to build consensus around EU Trade policy, especially in the wake of the COVID-19 pandemic and other trade-related challenges.

The Commission has sought public consultation from the European Parliament, Member States, stakeholders, and civil society. As the largest trading bloc in the world, the EU’s trade policy creates rules and standards that have significant implications for business everywhere. Since the founding of the European Economic Community in 1957, ICC has supported the bloc’s commitment to free trade, security, and peace.

In a letter submitted by Damien Bruckard, Deputy Director, ICC Trade and Investment, and Tom Voege, ICC Head of EU Affairs, ICC calls upon European policymakers to resist protectionism, strengthen multilateral trade, and use trade policy to solve common challenges, including the COVID-19 pandemic.

“Never before have the challenges to international commerce and the global trading system been so great. The stresses on the rules-based system over recent years, manifested in rising protectionism and diplomatic tensions, have only been exacerbated by the spread of coronavirus,” wrote Mr Bruckard and Mr Voege.

“At this critical moment, the EU can not only secure its own prosperity but that of the broader global business community by retaining open trade settings, resisting protectionism and building stronger international institutions.”

ICC’s submission to the Commission’s trade policy review is divided into three categories:

1. Retaining open trade settings and resisting protectionism.
2. Building a stronger multilateral trading system.
3. Using trade policy to help solve common challenges.

With representation in Brussels, Geneva, and Paris, ICC is committed to working with EU policymakers to ensure that trade policies are open, predictable, and promote the rule of law.

Read ICC’s letter and submission to the European Commission’s Consultation on Trade Policy Review.