European Commission seeks mandate to negotiate trade with NZ
European Commission seeks mandate to negotiate trade
and investment agreement with New
Source: Delegation of the European Union to New Zealand
The European Union has released Trade for All, its new trade strategy for the coming years. As part of an overhaul of its trade strategy, the European Commission announces it will seek a mandate to upgrade trade relations with New Zealand. The new strategy will deepen the EU's efforts to tap into Asian Pacific economic dynamism. It also commits the Commission to increased ambition, greater transparency and core values like labour and human rights in negotiations.
The European Trade Commissioner Cecilia Malmström announced yesterday that the European Commission would seek a mandate to negotiate a trade and investment agreement with New Zealand. Following conclusion of the Partnership Agreement on Relations and Cooperation (PARC) in July 2014, this new development highlights a flourishing bilateral relationship.
Europe's new trade strategy adapts to fundamental shifts in the distribution of world economic activity and other 21st century challenges. It recognises the importance of engagement with the Asian-Pacific's economic dynamism. It also emphasizes the importance of integrating European producers-large and small-into global value chains. In deepening its engagement in this region, the EU seeks to enhance relations with longstanding, like-minded partners such as New Zealand.
Europe's new strategy also emphasises that trade policy must maintain regulatory quality and core values such as accountability, labour rights, human rights and social and environmental sustainability. To reassure people that these values will be maintained, the European Commission also commits itself to make negotiations as transparent as possible at all stages.