📋 Tender Overview
The reform of the World Trade Organization WTO transatlantic economic relations between the EU and the US as well as the assessment of the implementation of the EUs free trade agreements were the main topics of the November session of the EU Foreign Affairs Council on trade issues in which Poland was represented for the first time by the minister Piotr Nowak.On the occasion of the EUs FAC Trade Council Minister Nowak met with the outgoing German minister of economy and energy - Peter Altmaier and with Frank Riester the French minister responsible for trade. He also held separate talks with the Vice-President of the European Commission Valdis Dombrovskis.WTO reformThe EU trade ministers met inter alia to discuss the directions of the reform of the World Trade Organization on the eve of the 12th WTO ministerial conference which will be held in Geneva from 30 November to 3 December 2021. It is the body that takes the most important decisions regarding the functioning of the World Trade Organization. Some of the arrangements made at this conference will have legal implications for the Union while others will be non-binding instruments NBI which must be approved in advance by the Council.As Minister Nowak points out - Today the WTO as a multilateral trading system based on transparent and fair regulations is in great need. Only the effective operation of this system guarantees the predictability and stability of conditions for international exchange. And this in turn helps us achieve sustainable economic growth create innovation and new jobs.And addsPoland in the region of Central Europe has become the engine of economic growth. In the last 20 years in the EU we have achieved the largest increase in the share of EU GDP and we are a leader in reducing unemployment and increasing employment in industry. In the European Union it was also Poland that developed its trade potential the most during the pandemic - not only did it achieve a record surplus but also increased its share in world trade the most among the Member States by 0.14 percentage points. We want to maintain this favorable trend and strengthen the commercial potential of Polish companies. Therefore an efficient WTO is in the interest of Poland.The World Trade Organization is in crisis. The main source of problems in the functioning of the WTO is the change in the geometry of economic potentials in the world economy. The system designed after World War II no longer corresponds to the new realities of the balance of power in the global economy. Since then the role and importance of large emerging economies including China India Brazil in the global flows of goods services and capital has increased significantly. Today not two but three global economies account for half of the GDP at purchasing power parity PPP. China joined the United States and the European Union. It is them that form the three most important connection hubs in the system of global value chains and are centers of stimulating trade in their regions. We are in favor of carrying out the necessary modernization of the WTO. Reforms must concern the sphere of transparency the dispute settlement system as well as the approach to development issues. Only a thorough modernization of the WTO will preserve the role for which this organization was established - a trade stabilizer- Minister Piotr Nowak postulated during the EU Foreign Affairs Council. Transatlantic relations with the USAEconomic relations with the US were another important topic of the meeting of EU trade ministers. This cooperation is particularly important in the context of counteracting the imposition of a narrative on technological matters by non-market economy states.Strategic partnership with the USA is crucial for shaping the international order and for creating a joint response to threats from China and Russia. We want the Trade and Technology Council TTC to be one of the elements of building such confidence in the commercial and economic sphere. We also hope that the Trade and Technology Council dialogue will help to overcome the existing barriers for EU companies to access the US market.- emphasizes the head of the ministry of development and technology.How do EU FTAs workAnother topic discussed by the FAC Trade Council was the report on the implementation and enforcement of EU Free Trade Agreements FTAs which was published on October 27 2021. It is a comprehensive overview of all FTA implementation and enforcement tools and instruments. The document focuses on 4 priority areas FTA implementation work to support SMEs removing barriers and resolving disputes. The report covers the year 2020 and the first half of this year. Statistics on trade in goods relate to 2020 and in services to 2019. The report replaces and combines two previously issued reports on the implementation of free trade agreements and a report on trade barriers. The report under discussion shows that the share of EU preferential trade with FTA partners in the entire EU foreign trade was 32 but including the Trade and Cooperation Agreement with the United KingdomAccording to Minister Nowak trade agreements signed by the EU with third countries should contribute to strengthening the EU economy and increasing the standard of living of its citizens. This feature is especially important in connection with efforts to revive our economies after the pandemic.Talks with the ministers for the economies of Germany and France and Commissioner DombrovskisStarting his mission in the Ministry of Economy Minister Piotr Nowak met with the outgoing German Minister for Economy and Energy Peter Altmaier. Minister Nowak thanked his German counterpart for the years of cooperation which brought unprecedented intensification of Polish-German economic cooperation. According to the preliminary results of the German Statistical Office published in February 2021.
