'EU trade policy must adapt to global value chains'

24 Jun '15

4 min read

The EU’s anti-dumping regime lacks transparency and predictability. The first of these results in a lack of knowledge over what data has been considered and how decisions have been made that result in measures which impact negatively on the price of imports. The second results in an uncertainty about if and when measures will be imposed and the scope and level of those measures and imparts a significant burden on EU importers. Improvements are needed in both of these areas.

While backing EU companies for their concern about social affairs, labour rights and environment, the FTA said it has created two initiatives to enable importers to improve social and environmental conditions in their global supply chains – the Business Social Compliance Initiative (BSCI) and the Business Environmental Performance Initiative (BEPI). Indeed, responsible supply chains are a top priority for the EU retail sector.

However, sustainability can only exist where trade exists and it should not override the goal of greater trade facilitation. Therefore, the EU commercial policy should continue promoting dialogue to augment acceptance of sustainability objectives and core values, without limiting the scope of its mandate which is primarily about easing export and import activities. (SH)

Fibre2fashion News Desk – India

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