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"Breaking the deadlock on EU trade agreements"

Date

22 Oct 2021

Sections

Trade & Society

Brussels/Frankfurt, 22 October 2021 – Commenting on the meeting of heads of state and government at the European Council, Ulrich Ackermann, Head of the Foreign Trade Department at VDMA, says:

"The standstill in EU trade agreements urgently needs to be overcome. The best example is the free trade agreement between the EU and Mercosur - nothing has been moving here for far too long. That is why the heads of state and government are sending the right signal at the EU Summit by discussing the difficulties of trade negotiations. The free trade agreements negotiated by the EU Commission are being accepted less and less by the European Parliament and the EU member states. This is a huge problem for export-oriented industries such as the European mechanical and plant engineering sector, endangering jobs and prosperity in Europe. Open markets and the international, smooth exchange of goods and services are basic prerequisites for the success of our companies, especially small and medium-sized enterprises.

Moreover, the EU will lose credibility if Free Trade Agreements cannot enter into force as quickly as possible.

It was therefore important that the EU Summit was used to discuss how trade agreements can be negotiated and, above all, ratified more quickly within the European institutions in the future. Because Europe can only remain competitive if free trade agreements are concluded and implemented."

A photo of Ulrich Ackermann, Head of the Foreign Trade Department, can be found here.

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