Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-16-Speech-3-557-000"
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"en.20110216.18.3-557-000"2
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"Mr President, this FTA is the first of a new generation of trade agreements launched in 2007 as part of the global Europe initiative. Global economy, instability and a stagnated mutlilateral system have strengthened the need and pursuit for increased bilateral relations. It is the first FTA in which Parliament will exercise its new enhanced powers given to it by the Treaty of Lisbon.
The FTA is designed to provide EU businesses, in a wide variety of economic sectors, with extensive and comprehensive access to the South Korean market through a series of unprecedented tariff liberalisations. It guarantees WTO-plus disciplines in the case of, for example, geographical indicators, government procurement, greater transparency of state aid and strong enforcement of intellectual property rights, and contains an all-important chapter on sustainable development.
However, while the many advantages are both immediate and conspicuous, I welcome more than anything else the fact that the FTA has an effective bilateral safeguard mechanism – a safeguard that allows the EU to restore MFN duty rates, should it be that this particular FTA has led to or threatens to cause serious injury to EU domestic industry. It is a safeguard that specifically addresses the concerns of Europe’s sensitive sectors, including the auto industry, consumer electronics and textiles, and guarantees the protection they deserve. On this note I would like to thank Pablo Zalba Bidegain for the work that he did on this specific part of the agreement.
The South Korea market offers significant new opportunities for EU goods and services. It is a market that until now has remained relatively closed off, due to high tariff levies and costly non-tariff barriers. The FTA will quickly remove EUR 1.6 billion worth of EU export duties levied annually. There will be benefits for EU exporters of industrial and agricultural products, immediate savings on chemicals – approximately EUR 175 million –pharmaceuticals, auto parts, industrial machinery, and the list goes on. It is also worth noting that these figures quoted will probably be even higher, because of the increased trade. Korea is currently among those more globally valuable export markets for EU farmers, with annual sales of over EUR 1 billion to Korea. The FTA fully liberalises nearly all the EU’s agricultural exports.
Exports are thus an important source of growth for the EU. They contribute to wealth and employment for European businesses and their employees and will act as one of the most important factors in stimulating the EU economic recovery. The Commission and the European Car Association have worked closely together to get this agreement.
The world is watching as Europe leads the way in improving trade and economic relations, with partners in every corner of the world looking at it. I have always said that trade is the real means of development. By removing barriers to trade and building new bridges we create new opportunities. This particular FTA offers a new approach. Complementary, of course, to Doha, it will drive Europe’s recovery and growth and the European Parliament will be instrumental in determining the future of global trade policy.
At this stage I would like to thank Ignacio from the Commission. One of the economists said, Ignacio, that this is probably the best trade agreement that both parties could ever have agreed. I urge all groups to put aside protectionism and support this agreement."@en1
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