Regions

EESC Recommendations to Belgian Presidency

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Photo by Christian Lue on Unsplash Competitiveness, SMEs and social inclusion are at the heart of the Belgian EU council presidency programme.  The European Economic and Social Committee (EESC) has subsequently made policy recommendations on the relationship between economic governance, long-term inclusive growth and sustainable security. In the first half of 2024, Belgium holds its thirteenth Presidency of…

Challenging British Isolationism

by Philip Bushill-Matthews 0 Comments
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Photo by Calum Lewis on Unsplash The Confederation of British Industry (CBI) used to have been the bastion of the UK business establishment since 1965. It was formed by a merger of the Federation of British Industries, the British Employers’ Confederation and the National Association of British Manufacturers. It claims to speak for some 170,000 businesses of all sizes and sectors, across…

Deal or No Deal?

by Philip Bushill-Matthews 0 Comments
Deal or no deal In 2016 during the referendum campaign Boris Johnson promised “we could strike free trade deals with America”; he would later add that such a deal would be “quickly in the back pocket.” In 2020 as PM he boasted: “We have got Brexit done and can now take full advantage of the fantastic opportunities available to us as an independent trading nation, striking trade deals with other partners around the world.” In 2022, following a rebuff from the USA he visited India and suggested that a trade deal would be completed by Diwali (October). A year has passed with no progress. So what has the UK actually achieved in terms of trade deals with other countries? The first was with Papua and New Guinea in March 2019, for implementation in January 2021, worth a puny £369 million a year. At least the International Trade Secretary, Dr Liam Fox, was honest when he said: “I am delighted to sign this trade continuity agreement as it will allow businesses to keep trading as freely as they do today.”  In other words it simply replicated the trading arrangements already secured by the EU. Big deal. The first real new deal was with Australia which came into force in May this year. International Trade Minister Nigel Huddleston said: “This is just the beginning of a new era of opportunity for British businesses as we use our status as an independent trading nation to deliver an ambitious programme of trade deals with countries all around the world.” International Trade Secretary Kemi Badenoch hailed the deal as “fantastic”, although the potential £2.3 billion gain represents less than 0.1% of the UK economy. It now appears that it was a fantastic deal – for Australia. Minette Batters, who leads the National Farmers' Union in the UK, explained why: "This agreement simply opens up UK agricultural markets for Australian produce, whether or not produced to the same environmental and climate-friendly standards that are expected of UK farmers." Former Environment Secretary, George Eustice told MPs recently that "overall the UK gave away far too much for far too little in return" after Trade Secretary Liz Truss "shattered" the UK's negotiating position. The UK started negotiations "with the strongest possible hand" but Eustice revealed that negotiators were put "on the back foot" by Truss demanding that the deal had to be agreed before the G7 met in Cornwall in June 2021. As a result of the UK’s self-imposed timetable Australia now has full access to the UK market to sell beef and lamb, while still banning the import of British beef. Great deal Liz. On a positive note the UK has formally signed up to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) – theoretically worth £12 trillion in GDP, although the government's own estimates indicate it might only add 0.08% to the size of the UK's economy in 10 years (recently reduced to 0.04%). Politically it is still good news, as it may blunt China’s chance to join: economically the jury is out as to whether it will ever translate into tangible financial benefits for the UK. On India, Trade Minister Anne-Marie Trevelyan said there could be an agreement before the end of this year, though PM Sunak has abandoned a planned trip to Dehil because talks were bogged down. India is stalling perhaps for one simple reason. The EU and India have been negotiating intensively for over eight years and are keen to reach agreement before both have elections in 2024. Will India do a sudden deal with little UK which could put a wider EU deal at risk? Not likely. Finally, Sunak recently signed a new UK-Singapore Strategic Partnership. The Government press release promised the UK’s economy will be boosted as a result. The next step will be to agree a bilateral investment treaty to deliver it. Until then, what has it actually achieved? According to Sunak “This new agreement with Singapore will take us even further in delivering our priorities and ensure that, as we map the future of the world economy, we are doing so alongside our closest partners.” Fine words, but basically window- dressing what is currently a friendly gesture between two nations – just like the UK/US Atlantic Declaration signed alongside President Biden earlier this year, which makes warm noises but absolutely no mention of any trade deal soon. So lots of positive spin but the promise of ‘fantastic’ trade deals has been exposed as another Brexit sham. Like most of Johnson’s pledges they were unfounded fantasies, but this has not stopped successive Conservative governments, including now Lord Cameron, continuing the charade and talking up future possibilities. There is however one market which is still packed with real opportunities for the UK. Fortunately, it is our nearest neighbour. Labour is beginning to admit this, but Conservatives refuse to acknowledge it: it is called the EU.

Photo by Fred Moon on Unsplash In 2016 during the referendum campaign Boris Johnson promised “we could strike free trade deals with America”; he would later add that such a deal would be “quickly in the back pocket.”   In 2020 as PM he boasted: “We have got Brexit done and can now take full advantage of the…

Ukraine’s EU Accession Talks

by James Wilson 0 Comments

On 14 December, EU leaders approved the European Commission’s recommendation to open accession negotiations with Ukraine and Moldova, bringing both countries even closer to joining the EU. This is an extremely positive development for the whole of Eastern Europe, but at the same time there are many obstacles to overcome. Despite Orbán’s best efforts, the…

Enlargement Fears

by James Wilson 0 Comments
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Photo by Christian Wiediger on Unsplash There are fears about the impact enlargement could have on the EU’s political power in the world, says a new survey. It says Poland and Denmark are the most optimistic on this question, with a plurality of 43% and 35% of citizens, respectively, believing Ukraine’s accession would have a positive…

Appointment of “Lord Brexit” as UK Foreign Minister Ridiculed

by James Wilson 0 Comments
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Photo by Andy Newton on Unsplash A former Europe Minister in the UK has ridiculed the appointment of former British PM David Cameron as the country’s new foreign secretary as an “odd gimmick.” Dr Denis MacShane, a former Europe Minister under Tony Blair, told EU Political Report: “David Cameron is known globally as the politician who kneeled before…

New Spanish Government

by James Wilson 0 Comments
Tomas Nozina

Photo by Tomáš Nožina on Unsplash The European Green Party has “congratulated” the new Spanish government formed by PSOE, Sumar and regionalist parties.  The message on Thursday came after Socialist leader Pedro Sánchez clinched a vote in parliament to lead Spain for another term as prime minister. He has secured a four-seat majority in the…

Belgium in Top Ten Countries

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Photo by Despina Galani on Unsplash Belgium is in the top 10 countries with the highest household savings in the world, according to new data. CityIndex analysed global data on household savings, including mean disposable income, mean household savings and long-term interest rates, to discover the countries with the highest household savings in the world. Belgium ranks 9th with a total savings…

Austria’s Short-Sighted Policies Fail to See the Potential of Eastern Europe

by James Wilson 0 Comments
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Photo by Adrian Dascal on Unsplash The European Union often appears caught up focusing on age-old disputes and losing touch with the evolving global landscape. The major countries in Europe seem content to spend their days haggling over financial matters, rather than adapting to new geopolitical and economic realities. A notable transformation has occurred in Eastern Europe however,…

Brussels European Quarter Rebranded

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Photo by Kat Kelley on Unsplash A new brand for the Brussels European Quarter has been formally launched. It took place in the building of the Brussels Commissioner for Europe and International Organisations (CEIO) in the heart of the European Quarter.  The brand bears the name ‘European Quarter Brussels’ and represents a new strategy for the neighbourhood.  After…