Spirits industry welcomes European Union trade pledge

The European Commission says the Deep and Comprehensive Free Trade Agreement (DCFTA) would help support economic reforms in the North African country, which is trying to consolidate democracy after a 2011 uprising that ousted an autocratic regime.

“The ministry hopes the European Commission will begin negotiations on an investment agreement with Taiwan as soon as possible, to conclude the agreement and create more mutual trade benefits”, said Anna Kao (高安), director-general of the ministry’s Department of European Affairs, at a news briefing.

Completing this agreement will support China’s reforms and would facilitate Chinese participation in the Commission’s investment plan for Europe as well as European participation in China’s “Belt and Road” initiative, the Commission noted.

“However, the strategy raises questions about the limited resources in the Commission devoted to trade”.

“We need first to finalise our internal discussions with them to make sure that we are on the same level of ambition”.

European officials will seek a mandate for a free trade deal with New Zealand.

“It’s been a long time coming”, he told reporters on Thursday. “Strengthening this cooperative relationship could open potential markets for USA and European Union insurers and ensure a healthy global insurance industry”.

The European Union is New Zealand’s third biggest trading partner, with two-way trade a year ago worth $18.9 billion, but the bloc has a population of about 500 million, making opportunities potentially numerous and lucrative.

He will also hold talks with British Prime Minister David Cameron in London.

The commission today released a new trade strategy seeking more effective policies and improving transparency, including a commitment to release key texts in Europe’s negotiations in the Trans-Atlantic Trade and Investment Partnership (TTIP), a similar far-reaching trade and investment deal to the Trans-Pacific Partnership, which sparked protests across the continent.