BusinessEurope Headlines No. 2016-16

EU-Australia trade deal could open new opportunities for European companies

BusinessEurope Director General Markus J. Beyrer met Australian Trade Minister Steven Ciobo to discuss opportunities of the EU-Australia free-trade agreement, negotiations for which are expected to be launched in 2017. Australia is an important partner of the EU, a like-minded country that shares the EU’s approach to an open and fair trade and is already integrated in the strategic and fast-developing region of South-East Asia. A trade deal could open new opportunities for EU companies, but also poses challenges in the fields of public procurement, agriculture and geographical indications.

Contact: Eleonora Catella

Respect of human rights: business plays a crucial role

"In line with the United Nations guiding principles on business and human rights, companies take their responsibility to respect human rights; however this cannot replace the duty of states to protect human rights." This was the main message of Maxime Cerutti, BusinessEurope’s Director for Social Affairs, at a conference organised in London on 27 April by the International Organisation of Employers (IOE). The issue is part of the wider debate on globalization, Mr Cerutti highlighted, pointing out that companies make an important positive contribution in emerging, developing and advanced economies by providing jobs and prosperity. "At the same time, it is important that companies have the right information to be able to do business in countries where governance and rule of law is weak. The European Commission could help with this through its local EU delegations". Mr Cerutti also emphasised the importance of BusinessEurope and IOE working together on these issues, in particular to showcase what companies are doing voluntarily to deal with human rights challenges, for example in their supply chains.

Contact: Rebekah Smith

China's market economy status debated with Young China Watchers

"Europe needs efficient trade defence instruments", BusinessEurope Director for International Relations Luisa Santos said at an event on China’s market economy status organised by Young China Watchers on 3 May. The European Union is currently debating what the expiry of certain provisions of China's protocol of accession to the WTO at the end of 2016 will mean for the way by which it calculates anti-dumping duties for Chinese imports. "Any decision the EU might take should be treated in accordance with WTO and EU rules, and will need to take the real market situation in China into account", she added. The question of China’s market economy status is not just about China, it involves China. The EU and China have a huge stake in each other’s success, and it is important that the EU proactively engages China as well as other major WTO members on this topic to maintain a balanced economic relationship with China and avoid trade diversion of Chinese imports to the EU as a consequence of differing views.

Ecofin Committee reviews progress on EU investment plan

The importance of reducing barriers to investment was the main message from BusinessEurope’s Ecofin Committee when meeting Miguel Gil Tertre, member of cabinet of European Commission Vice-President Jyrki Katainen on 28 April. Members also praised the good start of the European Fund for Strategic Investment and asked that the European Commission and the EIB provide the necessary support for all EU member states to be able to benefit from the ‘Infrastructure and Innovation window'.

Discussing financial legislation with ESMA Executive Director

The work of the European Securities and Markets Authority (ESMA) aims at ensuring that European financial legislation functions effectively and encourages growth, ESMA’s Executive Director Verena Ross told members of the BusinessEurope Financial Affairs working group on 27 April. ESMA fully supports creating a Capital Markets Union in the EU that will allow companies a better access to financial markets and encouraged non-financial companies to contribute actively to this. ESMA should support transparency and stability in financial markets, and members emphasised the importance of ensuring that European financial legislation is supportive of European businesses and does not unnecessarily increase costs and burdens.

Fostering due process in national antitrust procedures through coordination

A strong, fair and consistent enforcement of competition law is crucial for a competitive and growth-enhancing single market. During a panel debate organised by the Global Competition Law Centre of the College of Europe on 28 April, BusinessEurope Deputy Director Guido Lobrano stressed that there is a scattered reality among the various national competition authorities (NCAs). The European Competition Network, he suggested, should strengthen its role to ensure coordination among NCAs with regard not only to enforcement but also to procedures and due process. In particular, national leniency programmes need to be coordinated further with a one-stop-shop approach and a uniform system.

A new European Innovation Council: initial views

"The idea of setting up a European Innovation Council (EIC) is an opportunity for a fruitful exchange of views among stakeholders on how to improve the innovation policy framework in Europe. We see the current debate promoted by the European Commission positively, but remain to be convinced that the on-going discussion on the EIC does not risk postponing decisions which have to be taken now". This is the main message expressed by BusinessEurope in its initial reaction to the call for ideas for a European Innovation Council. The proposal for a new body was launched by Carlos Moedas, European Commissioner for Research, Science and Innovation in 2015. It was followed by a call for ideas, as the European Commission sought stakeholder views about how to promote the new potential institution and reflect innovation needs in the EU.

Calendar

9 May 2016: extraordinary meeting of the Eurogroup
9 May 2016: Europe Day
10-13 May 2016: Adaptation Futures, international climate change conference, Rotterdam
11-13 May 2016: 46th St. Gallen symposium

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