EU launches Trade and Investment Dialogue with Trans-Pacific bloc

This is an important milestone, as the EU and the members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) represent 32 per cent of global GDP and 37 per cent of global trade. The EU-CPTPP Trade and Investment Dialogue will cover result-oriented cooperation between the two blocs in five key areas: trade diversification, digital trade, trade and investment facilitation, supply chain resilience, and the global trade environment, including World Trade Organization reform, the European Commission said in a press release.

“As the world's largest trading bloc (with a global trade share of close to 16 per cent), the EU remains committed to an open, rules-based and stable trade environment. Our reinforced cooperation with CPTPP partners therefore speaks volumes about the importance of our shared approach to trade. But this goes beyond a symbolic signal, as we are now set to focus our efforts on clear, mutually beneficial results across the five priority areas,” EU commissioner for trade and economic security Maros Sefcovic said.

On the margins, Sefcovic held a bilateral meeting with Australian Trade Minister Don Farrell to review the teams' work on strengthening bilateral trade and investment relations. He also exchanged with Australian Minister for Resources Madeleine King on accelerating EU-Australia cooperation on critical minerals, focusing on real, timely projects. This cooperation is central to our economic security agenda, with Australia's strong capacity and shared high standards seen as key assets.

ALCHEMPro News Desk (RR)