The EU’s new trade and investment strategy, launched October 14, is designed to be more effective, transparent, and reflective of EU values, including sustainable development, human rights, fair and ethical trade, and the fight against corruption.
It is intended to benefit as many people as possible—including workers, consumers, small and medium-sized businesses, and trading partners in developing countries.
As the world’s largest exporter and importer of total goods and services, the largest foreign direct investor, and premier destination for foreign direct investment, the EU is well-placed to use trade and investment policy to boost jobs, growth, and investment.
Cecilia Malmström, EU Trade Commissioner said, “We’ve listened to the debate, Europeans know that trade can deliver jobs and investment for consumers, workers, and small companies. And they want more of those results. But they don’t want to compromise on core principles like human rights, sustainable development around the world, or high quality regulation and public services at home. And they want to know more about the negotiations we carry out in their name. So trade policy must become more effective, more transparent and more in tune with our values. In short, it must become more responsible. That’s what we’re doing today.”