THE EUROPEAN UNION’S TRADE POLICY IN LIGHT OF THE GREEN DEAL

Bucur Louisa-Maria
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Bucur Louisa-Maria: BUCHAREST UNIVERSITY OF ECONOMIC STUDIES, BUCHAREST, ROMANIA

Annals - Economy Series, 2024, vol. 2, 103-112

Abstract: The foundation of a healthy Single Market is represented by a strong trade policy. Over the years that shaped the European Union as it is known today, European trade policy had to adjust to new tendencies regarding economic growth, free trade and respecting new regulations set in place by the new wave of green economy. The European Union’s (EU) Green Deal is the main new growth strategy to transition the EU economy to a sustainable economic model. Being green, mindful of the carbon neutrality challenges the trade policy and pushes the law makers and other entities to take serious action. The European Green Deal aims to boost the efficient use of resources by moving to a clean, circular economy and stop climate change, revert biodiversity loss and cut pollution. One of the most important challenges faced by the European Union’s trade policy represents its alignment with the imperatives of environmental sustainability and Green Deal. Focusing on trading partners around the world, the study assesses the impact of EU trade policy on the adoption of initiatives to promote environmental protection, decent working conditions, ecolabelling, and sustainable marketing of natural resources. Considering trade agreements as tools to promote sustainable development goals and emphasizing the need for coherence between trade policy and environmental commitments, this article will use explanatory graphs and data collected from the European Commission and others to demonstrate the need for a common framework to contribute to achieving the Paris Agreement's environmental, economic and social sustainability goals.

Keywords: EU trade policy; Green Deal; trade agreements; sustainability (search for similar items in EconPapers)
Date: 2024
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