WTO Commends EU's Trade Policy, Citing Progress and Continued Commitment to Doha Agenda

Strategic Insights -

The World Trade Organization (WTO) has given a positive assessment to the European Union's (EU) trade policy in its seventh review, praising the EU's efforts to simplify its tariff structure and reduce duties and support levels for agriculture. The report highlights the EU's commitment to liberalizing its farm support system, but notes that more needs to be done to achieve full liberalization. Trade Commissioner Pascal Lamy hailed the review as a "thumbs up" and a "grade A", citing the EU's instrumental role in promoting the Doha Development Agenda.

Key Takeaways:

  • The WTO's seventh review of the EU's trade policy commends the EU's efforts to simplify its tariff structure, reduce duties, and lower support levels for agriculture, which would contribute significantly to promoting world trade.
  • The review notes that while the EU has decoupled farm payments from production, its Common Agricultural Policy still falls short of fully liberalizing the farm support system.
  • Trade Commissioner Pascal Lamy describes the review as a "thumbs up" and a "grade A", highlighting the EU's success in putting the Doha Development Agenda back on track.
  • US Deputy Trade Representative and WTO Ambassador Linnet F. Deily expresses concerns about the EU's response on WTO issues related to its enlargement, particularly regarding tariffs and services.
  • The EU's enlargement has raised questions about its trade policies, including the need for adequate compensation for non-EU trading partners.

Statistics:

  • The WTO review does not provide specific numerical data, but notes the EU's efforts to simplify its tariff structure and reduce duties and support levels for agriculture.
  • The review highlights the EU's commitment to liberalizing its farm support system, but notes that more work is needed to achieve full liberalization.

Sources:

  • World Trade Organization (WTO)
  • European Commission Statements by Pascal Lamy, Trade Commissioner
  • European Union Trade Policy Website (EISnet): www.eis.be Advanced search Reference= EURE;2908;502