The European Commission welcomes the Council’s adoption of the 18th Russia sanctions package, aimed at further ramping up pressure on the country and supporting EU’s goal of achieving a just and lasting peace for Ukraine. The new measures focus on five building blocks: cutting Russia’s energy revenues, hitting Russia’s banking sector, further weakening its military-industrial […]
EU and Ukraine reach agreement in principle on a modernised trade relationship
The Commission has concluded negotiations with Ukraine on the review of the EU-Ukraine Deep and Comprehensive Free Trade Area (DCFTA). The agreement in principle on the review of the trade liberalisation provisions under the Association Agreement marks a new phase in establishing a long-term, predictable, and reciprocal framework within the broader context of Ukraine’s accession process. It […]
New import surveillance tool to help EU prevent harmful trade diversion
The European Commission has set up a new surveillance tool to help protect the EU against sudden and potentially disruptive surges in imports. This system aims to prevent harmful trade diversion, which occurs when a significant amount of goods that cannot enter other markets due to high tariffs and other restrictions are redirected into the […]
EU and UAE launch free trade talks
The European Union and the United Arab Emirates (UAE) have formally launched negotiations for a bilateral free trade agreement, opening the possibility of the first comprehensive EU trade deal in the Gulf region. European Commission President Ursula von der Leyen and His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, first agreed to […]
Trade countermeasures against US
Last April 9th, EU Member States have voted in favour of the European Commission’s proposal to introduce trade countermeasures against the United States. The Commission’s proposal was made in response to the March decision by the US to impose tariffs on imports of steel and aluminium from the EU. The EU considers US tariffs unjustified […]
New Directorate General to Strengthen Mediterranean and Gulf Ties
Following President von der Leyen’s call for a more focused approach to the EU’s wider neighbourhood, especially the Mediterranean, with a Commissioner in the new College dedicated to this portfolio, the European Commission has set up a new Directorate-General for the Middle East, North Africa and the Gulf (DG MENA). In line with the President’s Political Guidelines […]
Belarus: EU imposes new sanctions
The Council adopted restrictive measures targeting the Belarusian economy, in view of the regime’s involvement in Russia’s illegal, unprovoked and unjustified war of aggression against Ukraine. These comprehensive measures aim at mirroring several of the restrictive measures already in place against Russia, and thereby address the issue of circumvention stemming from the high degree of […]
EU agri-food trade achieved a record surplus in 2023
EU agri-food trade balance reached its record level in 2023, according to the latest report published by the European Commission. After a good performance of the EU agri-food trade in 2022, the most recent report released by the European Commission indicates that the EU agri-food trade balance reached its record level in 2023. EU exports reached […]
EU trade in goods with China: Less deficit in 2023
In 2023, the EU trade in goods deficit with China stood at €291 billion, which was €106 billion lower when compared with 2022 (-27%). Between 2013 and 2023, the EU’s trade in goods deficit with China varied between €104 billion in 2013 and €397 billion in 2022, the highest value in the decade. In 2023, […]