The Commission eliminated in 2017 the highest number ever of trade barriers faced by EU companies doing business abroad
The annual report on Trade and Investment Barriers, released today, shows that the European Commission has eliminated the highest number ever of trade barriers faced by EU companies doing business abroad. European exporters reported a major increase in protectionism in 2017.
The report highlights that thanks to the EU’s enhanced Market Access Strategy, 45 obstacles were lifted fully or in part in 2017 – more than twice as many as in 2016. The barriers removed spanned across 13 key EU export and investment sectors, including aircraft, automotive, ceramics, ICT & electronics, machinery, pharma, medical devices, textiles, leather, agri-food, steel, paper, and services. Overall, this brings the number of barriers eliminated under the Juncker Commission to 88.
Thanks to those barriers removed between 2014 and 2016 alone, in 2017 EU companies exported an additional €4.8 billion. This is the equivalent to the benefits of many of our trade agreements.
The report also shows that 67 new barriers were recorded in 2017, taking the total tally of existing obstacles to a stark 396 between 57 different trading partners around the world. This confirms the worrying protectionist trend identified in previous years. China displayed the largest increase in new barriers in 2017, followed by Russia, South Africa, India and Turkey. The Mediterranean region also showed a notable rise in barriers for EU companies. The nine countries with the highest number of trade barriers still in place are all G20 economies.
Compliments of the European Commission