EU commissioner says trade deals must meet bloc standards


EU commissioner says trade deals must meet bloc standards

Thu, 18 May 2017
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(ShareCast News) - Any trade deal negotiated by the EU following the conclusion of Brexit negotiations must meet the standards set by the bloc for labour and competition rules, the European Commission's Margrethe Vestager has said.
Vestager is the EU's competition commissioner, and pointed towards a deal negotiated with Canada to be held up as a "model" for future trade deals with the bloc.

Uncertainty remains about the future relationship between Europe and the UK post-Brexit, with negotiations between the sides set to begin in the near future. EU leaders set out their guidelines for the negotiations earlier this month, including a vow not to give the UK any competitive advantage in any trade deal.

In the interview with several European newspapers, Vestager said any deal must be mutually beneficial.

"It is about trusting the other part to do something that you find sufficient, not necessarily the same, but something that one way or another matches your own way of looking at things so that you do not import things that would not accept in your own jurisdictions."

The EU-Canada trade deal, known as Ceta, was negotiated over a seven-year period by Vestager's colleague Cecilia Malmström, and includes provisions for labour standards and human rights.

"I think the work done by Cecilia is a model of how modern trade agreements can look," Vestager said.

The UK faces a general election on 8 June which will give further indication on what the government's stance will be heading into the Brexit negotiations.