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Thursday, 18 March 2010

EC consults stakeholders over trade policy towards developing countries

European Trade Commissioner Karel De Gucht opened a conference focused on the European Union's trade policy towards developing countries. The objective of this conference is to discuss publicly how to maintain the effectiveness of the EU's General System of Preferences (GSP) in promoting development, how to make the most of regional trade agreements with developing countries, and how to encourage sustainable development. Commissioner De Gucht also announced the launch of a public consultation to support the review of the EU's GSP scheme in the coming month. "In formulating its trade policy towards developing countries the EU needs to take into account recent changes in the global economic landscape with emerging economies playing an increasingly important role. However, more vulnerable developing countries are still facing challenges in exploiting the full potential of trade. But ultimately everybody on the planet should be better off from trade. We have five years to translate good intentions into good results", said Commissioner De Gucht.

Source: European Commission

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