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The Covid-19 pandemic is strongly affecting the Euro-Mediterranean region, creating new challenges and exacerbating pre-existing ones. The pandemic has highlighted fundamental weaknesses in institutions, economies and health systems. Civil society plays a key role in the reconstruction and resilience of the whole region.
Trade Policy Review - An Open, Sustainable and Assertive Trade Policy
The proposed opinion will look at new approaches to more fairly distributing the burden of transformation towards a sustainable Europe.
European industrial, energy and climate policy is hampered by contradictory requirements on the price for Greenhouse effect Gas (GHG) emissions: on the one hand, high prices would be necessary to incentivise investment and changes in consumption patterns; on the other, the preservation of the external competitiveness of EU energy-intensive industries, as well as the prevention of “carbon leakage”, would require low prices.
The proposed own-initiative report investigates the technical and legal feasibility of Border Adjustment Measures for the internal price of GHG emissions: importers pay the price, exporters get it refunded, as it already is the case for VAT. The refund of the GHG emission price to exporters could be based on a VAT-like accounting system. The GHG emission price paid by importers could be based on the basic metals and materials content of the product. This system would be in line with WTO rules, and rely upon fully proven methodologies.
The European Economic and Social Committee would like to reiterate its commitment to the WTO as the guardian of international trade and a crucible for developing rules and disciplines to ensure fair trade, the liberalisation of trade in goods and services, and transparency in trade-related policy-making.
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