FTA, along with other business associations representing various economic sectors, issued a statement urging the EU institutions and Member States, to take measured steps when going forward on the issue of trade and sustainable development (TSD) in EU preferential trade agreements.
The signatories stressed that the intention of the TSD chapters is to promote long-term cooperation to foster sustainability and promote international standards. It is not envisaged to provide instant solutions to complex issues by imposing sanctions and cutting off cooperation with trading partners.
FTA wishes to stress that this option would put the EU at risk of isolating itself, where partners might be discouraged from cooperating due to the excessive demands. At the same time, others could also retaliate with sanctions, if exploitation of labour or the environment occurs in a specific European industry. As experience has shown, abuses can happen anywhere, including in the most developed countries.
FTA will continue advocating for a more effective approach to improving sustainability standards globally. With a long track record and experience in driving sustainable development in global value chains, FTA can support the efforts to ensure that trade continues to deliver benefits for everyone.
- FTA Calls for a Balanced Debate on EU Trade and Sustainable Development
- FTA Advocates for EU Trade and Sustainable Development
- FTA Roundtable 'TSD Chapters in EU Trade Agreements: More Complexity, Better Results?'