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The Covid-19 impact is having a profound and unprecedented impact and Europe needs to respond with a strong, social, sustainable and inclusive EU Recovery Plan that will support companies and people. The upcoming early EU Trade Strategy review needs to draw important lessons from this crisis. The EU is not self-sufficient and depends on access to international markets. It needs resilient, diversified and responsible Global supply chains. Stronger instruments need to deliver on a sustainable trade and investment agenda in all its dimensions. It needs to be consistent with the Green Deal and show equal ambition on the effective implementation and enforcement of labour provisions. European Economic and Social Committee (EESC) recommendations made in a series of recent and ongoing key opinions on EU trade must inform this strategy review.

A system of corporate liability for human rights abuses is currently being negotiated in the UN, within the UNHRC’s open-ended intergovernmental working group on transnational corporations and other business enterprises concerning human rights (OEIGWG), established by the UN General Assembly on 26 June 2014. The mandate of the working group is to elaborate an international legally binding instrument to regulate, in international human rights law, the activities of transnational corporations and other business enterprises.

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.

Key points:

The EU today faces an increasing demand for a constructive dialogue with civil society on trade, as seen with CETA and TTIP. Domestic advisory groups (DAG) are a great way to connect citizens with trade issues. DAG should responsibly advise on all aspects of EU Trade Agreements.

Domestic advisory groups should be advisory, consultative, institutionalized and competent to cover all provisions of FTAs.

The EESC considers that the participation of civil society in all FTAs is an indispensable element in the strategic ambitions of the external policies of the EU.

The EESC considers its participation in DAGs valuable and wishes to continue to be part of all of them.

The EESC asks budgetary authorities for an additional budget to support Domestic Advisory Groups to fulfil the expected work in terms of quantity and quality.

The EU has one of the world's most open investment regimes, and collectively EU Member States have the fewest restrictions in the world on foreign direct investment (FDI). The OECD expressly acknowledged this in its FDI Regulatory Restrictiveness Index which measures statutory barriers against foreign investment in over 60 countries.

The Commission's reflection paper of 10 May 2017 on Harnessing Globalisation recognised increasing concerns about foreign investors' strategic acquisitions of European companies with key technologies. These concerns called into question the capacity of the current regulatory framework to address them.

The EESC has played an important role in raising awareness of EU trade policy among civil society both in the EU and in third countries. The EESC encourages the Commission to strengthen its dialogue with civil society to develop the functioning of TSD chapters in current and future trade agreements. However, the EESC urges the Commission to be more ambitious in its approach, in particular with respect to strengthening effective enforceability of the commitments in TSD chapters, which is of crucial importance to the EESC. TSD chapters must be given equal weight to those covering commercial, technical or tariff issues.

The Commission recently published a Communication on a Renewed Partnership with the ACP Group of countries. ACP-EU relations are currently governed by the Cotonou Partnership Agreement that will expire in 2020, therefore the Commission has published recommendations on what the future structure should be. Last year the EESC already drafted a general opinion on the post-Cotonou framework; this new opinion will have to answer specifically to the Commission's communication.