(VOVWORLD) - Fifteen EU governments called on Monday for the bloc to quickly conclude free trade agreements to ensure its long-term economic growth and geopolitical standing in the world.
In a letter to EU Trade Commissioner Valdis Dombrovskis, 15 ministers said the conflict in Ukraine and the COVID-19 pandemic underscore the need for resilient supply chains, strategic partnerships, and open trade. With world powers vying for leadership and new alliances, the EU needs to accelerate its own trade push. One in seven EU jobs depend on trade, the ministers said.
The Regional Comprehensive Economic Partnership (RCEP), the world's largest trade agreement, which includes China, Japan, and Australia, entered into force at the start of 2022, a year after it was signed. That should be a wake-up call for Europe, the ministers said.