The DIHK outlines priorities for a new EU trade strategy from a business perspective
© Thatree Thitivongvaroon / Moment / Getty Images
The German Chamber of Commerce and Industry (DIHK) is calling on the European Union to adopt an ambitious EU trading policy that supports German companies in their international business. It outlines the key aspects in ten guidelines.
Geopolitical and technological changes, sustainability requirements, energy crises, increasing protectionism and the erosion of multilateral regulations have fundamentally changed the international division of labour, according to the "Guidelines for International Trade Policy", which were unanimously adopted by the DIHK Executive Committee and presented in in both the German Bundestag Berlin and the European Parliament in Brussels.
In particular, the EU must resolutely counter the global trend towards isolationism, because: "Protectionism does not create jobs. Germany's closely interlinked international economy is directly affected by this: One in four German jobs depends on foreign trade, in industry it is even one in two."
According to the DIHK position paper, free trade and openness to investment remain "decisive means of maintaining and increasing prosperity". Therefore, the commitment to open markets and good trade rules must continue to characterise the political agenda - "both inside and outside the EU". At the same time, Europe must prepare itself for an increasingly decoupled global economy and become more sovereign.
"With a view to the European elections in 2024, it is important to make the EU trade strategy fit for the new global situation and put it at the top of the agenda of the new EU Commission," the authors of the paper say. "Only with an EU that is resolute and united in this area will our companies have a chance of success.
Peter Adrian
© DIHK / Werner Schuering
For DIHK President Peter Adrian, this results in a logical next step for action: "In order to improve the situation for companies in Germany and Europe, new trade agreements, for example with Mercosur, India and Indonesia, are also absolutely necessary. They are crucial instruments for securing trade and investment and opening up new markets."
The current geopolitical challenges urgently require a reorientation of international trade policy, Adrian warns. The DIHK's ten-point position paper therefore emphasises the central importance of open markets and good trade rules for prosperity and jobs in Germany.
"In view of geopolitical uncertainties, increasing protectionism and the erosion of multilateral rules, a strong commitment to competitiveness, multilateralism and supply chain security is required," he emphasised."The EU must adapt its trade strategy to the new global situation and act as a sovereign player in order to protect the interests of European companies internationally."
The DIHK President outlines the DIHK's vision for trade and industrial policy as follows: "Openness, competitiveness and good rules are not only drivers of prosperity, but also guarantors of jobs and sustainable development in a global context."
In 2021, only 44 per cent of the EU's foreign trade was covered by trade agreements, reports Adrian. New agreements are correspondingly important. And: "The position paper also contains recommendations for future EU trade policy on the important topics such as digital trade, customs, SME support and economic security."
The position paper can be downloaded here:
DIHK-Guidelines für International Trade Policy (PDF, 760 KB)
