BAKU, Azerbaijan, March 29. EU is negotiating relevant rules in digital trade chapters of its recent trade agreements, Miriam Garcia, European Commission spokesperson, told Trend.
She pointed out that the digital economy and e-commerce have become a central stage of global competition.
“In the coming years, it will reconfigure economic relations with a high potential for disruption. Therefore, it will require up-to-date global rules that will ensure an international level playing field, transparency as well as trust among businesses and consumers. On the domestic front, the EU is updating its regulatory toolbox with the aim to provide businesses, consumers, and citizens with fair, non-discriminatory and transparent rules for digital economy,” noted Garcia.
She went on to add that externally, supporting Europe’s digital agenda is a priority for EU trade policy.
“The EU is an active participant in the WTO e-commerce negotiations which in our view provide the best platform to develop a global set of rules governing digital trade. To complement future global rules, the EU is also negotiating relevant rules in digital trade chapters of its recent trade agreements,” added Miriam Garcia.
The EU is the world's largest trading bloc. The EU is the world’s largest trader of manufactured goods and services. It ranks first in both inbound and outbound international investments. The EU is the top trading partner for 80 countries. By comparison, the US is the top trading partner for a little over 20 countries. It is the most open to developing countries. Fuels excluded, the EU imports more from developing countries than the USA, Canada, Japan and China put together.
The EU benefits from being one of the most open economies in the world and remains committed to free trade. The average applied tariff for goods imported into the EU is very low. More than 70 percent of imports enter the EU at zero or reduced tariffs. The EU’s services markets are highly open and we have arguably the most open investment regime in the world.
---
Follow the author on Twitter: @Lyaman_Zeyn