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Economics Minister Nicole Hoffmeister-Kraut has criticized the agreement on the European Union's supply chain directive. She sees this as a threat to the competitiveness of companies in the country.
Minister of Economic Affairs Dr. Nicole Hoffmeister-Kraut commented on December 14, 2023 on the occasion of the agreement in the trilogue on a European Union (EU) supply chain directive: “Baden-Württemberg is the federal state with the strongest exports. A large number of our companies are integrated into international value chains. With the agreement in the trialogue on a European supply chain directive, the possible effects of which go well beyond the already existing German Supply Chain Due Diligence Act, the EU is endangering the competitiveness of our companies World trade at a worst possible time. In the further process, we will therefore work to ensure that the expected bureaucratic hurdles are kept as limited as possible." Baden-Württemberg's export quota was 46 percent in 2022 and thus well above the national average.
Restart of EU trade policy necessary
World trade continues to suffer from various influences, such as the Russian war of aggression on Ukraine, energy price increases and high inflation rates worldwide. This also affects Baden-Württemberg's foreign trade. “There is an urgent need for a restart of the EU trade policy, which is based on less bureaucracy and more willingness to compromise. The EU must also promote the opportunities for diversification of international value chains through concrete action and reduce additional, bureaucratic and market-separating regulations,” said Hoffmeister-Kraut. “EU trade policy must once again be guided more by an active approach to our trading partners around the world; this applies in particular to the Mercosur countries and the stalled EU-Mercosur negotiations,” said the Economics Minister.
