The informal meeting of the Trade Economist Network, organized by the European Commission / DG Trade, took place in Bucharest on Wednesday, 8 May, 2019.
This is the fourth event concerning EU’s common trade policy organized in Bucharest during the mandate of the Romanian Presidency to the Council of the European Union (RO PRES 2019).
”1.4 million jobs in Romania and 36 million jobs in the EU are supported by extra-EU exports. These figures confirm the significance of the EU common trade policy, and the technical contribution of the economists from DG Trade and Member States helps us to assess the impact of our decisions”, said minister Ștefan-Radu Oprea, president of the Foreign Affairs Council – Trade.
The Trade Economist Network is an informal network of trade economists from Member States and within the European Commission. They meet twice a year in order to discuss and convey the economic impact of current trade policy issues.
The activity of economists and trade experts has a direct influence on the EU’s common trade policy, as impact assessments, ex-post evaluations, sustainability impact assessments and other relevant studies support decision makers in taking informed decisions which impact the European business environment and the lives of the 500 million European citizens.
During the opening of this meeting, the president of the Foreign Affairs Council – Trade also presented the contribution made by the Romanian Presidency to the Council of the European Union to the consolidation of the common trade policy:
– the adoption of the negotiating directives for trade agreements with the United States of America on conformity assessment and elimination of tariffs for industrial goods;
– the entry into force of the EU-Japan Economic Partnership Agreement;
– the consent of the European Parliament for the conclusion of the EU-Singapore Free Trade Agreement and Investment Protection Agreement;
– the entering into force of the FDI Screening Regulation and Horizontal Safeguard Regulation.
Another tangible outcome RO PRES 2019 will seek to attain is to have the EU – Vietnam Free Trade Agreement and Investment Protection Agreement signed during its mandate.
The report ”How Important Are EU Exports for Jobs in the EU?” can be found here:
The report on the economic impact of the EU – Vietnam Free Trade Agreement can be consulted here: http://trade.ec.europa.eu/doclib/docs/2019/february/tradoc_157686.pdf