Analytics, Cooperation, EU – Baltic States, Foreign trade , Markets and Companies, Modern EU

There is a clear need for practical guidance on how SMEs (and regions in the member states) can engage in external trade (i.e. with third countries) and get information on trainings, seminars and workshops, which can help improve the reach of practical information and provide support to SMEs in the regions. In this way the regions will develop tools and find out methods that can be used to increase the FTAs implementation, particularly among micro-enterprises and SMEs.  

The European Committee of the Regions (CoR) is the voice of regions and cities in the European Union; it represents local and regional authorities across from the states and advises on new laws that have an impact on regions and cities (70% of all EU legislation).

The EU’s advisory body, Committee of the Regions (CoR) and its commission for economic policy (ECON) assist the regions in the states and local communities in increasing their growth potentials.

More in: https://cor.europa.eu/en/about/Pages/default.aspx  

Recent CoR’s survey

EU trade agreements with third countries cover more than 70 markets and approximately 41% of the EU trade in goods worldwide. Currently about 36 million jobs in the EU depend on exports to the rest of the world. Despite the important potential that trade continues to deliver in terms of growth, employment, job creation and investment in the EU, more needs to be done to increase the effect of the EU’s Free Trade Agreements (FTAs) for SMEs in the member states’ regions.  

The ECON adopted some recommendations on FTAs implementation, on budgetary instruments for convergence, competitiveness and the service package.

Attention to states’ regions is crucially important for efficient socio-economic development and the progress of EU policies in general. The SMEs efficiency is based on their export activities; hence, the CoR’s intention to activate businesses’ added value to states’ regions.

In the joint survey by CoR and Eurochambres (the association of Chambers of Commerce in the states) performed over several months, the objectives have been identified as well as opportunities and obstacles facing the FTAs implementation in the states. The survey’s outcomes will help small businesses and local communities in the EU member states to seize the FTAs potential.

The Survey-2019 shows that effective trade implementation requires addressing the knowledge gap surrounding EU FTAs by providing practical information on how SMEs can make use of them in practice.

More on survey in: https://cor.europa.eu/en/news/Pages/Chambers-and-Regions-said-a-collective-effort-is-needed-to-boost-uptake-of-EU-Free-Trade-Agreements-FTA    

Perspectives

The COR’s implementation reports on FTAs is a crucial step towards effective instrument for “transposing” growth opportunities brought to local communities on export-import trade agreements. European FTAs should be made fit for SMEs with regional authorities playing a vital role in disseminating information about the benefits of FTAs to SMEs.

Quire often some EU’s territories are not prepared to deal with international competition; in this regard, territorial “impact assessments” can be a powerful tool helping to identify and quantify possible impacts and thus allowing cities and regions to put the right policies in place.

More on Implementation of Free Trade Agreement (FTAs): the regional and local perspective in: https://cor.europa.eu/EN/our-work/Pages/OpinionTimeline.aspx?opId 

 A user guide is available at https://memportal.cor.europa.eu/

The Committee’s first draft opinion on implementation of Free Trade Agreements in regions has a key role in implementation. As the draft opinion suggests, regions and their local business and citizens are key beneficiaries of FTAs; thus, the draft opinion will be the beginning of a more systematic engagement between the Commission and the Committee of the Regions in relation to implementation of EU’s trade agreements. As a part of closer cooperation the COR suggested to maintain the Expert Group on Trade Agreements in which it will play a more active role with the appointment of a Chief Trade Enforcement Officer who will be in charge of monitoring the implementation of climate, environmental and labour protections enshrined in EU trade agreements, and reiterated cities' and regions' offer for close cooperation.

After the debate with Commissioner Hogan, ECON members adopted opinions on "the budgetary instrument for convergence and competitiveness" and "the service package: An updated view from Europe's local and region authorities"; they also discussed the 2020 action plan for cooperation with the European Investment Bank.

More information in: 

= European Commission factsheet: 

2019 annual report on the implementation of EU Trade Agreements; 

= Survey on Free Trade Agreements: Report.