《EU TRADE POLICY REVIEW 2016》.pdf

RESTRICTED WT/TPR/G/284 28 May 2013 (13-2725) Page: 1/18 Trade Policy Review Body Original: English TRADE POLICY REVIEW REPORT BY THE EUROPEAN UNION Pursuant to the Agreement Establishing the Trade Policy Review Mechanism (Annex 3 of the Marrakesh Agreement Establishing the World Trade Organization), the policy statement by the European Union is attached. Note: This report is subject to restricted circulation and press embargo until the end of the first session of the meeting of the Trade Policy Review Body on the European Union. WT/TPR/G/284 • European Union - 2 - Contents 1 INTRODUCTION 3 2 THE EUROPEAN UNION IN A CHANGING WORLD 3 2.1 Economic Performance and Challenges Ahead 3 2.2 The EU response to the financial turmoil and the economic slowdown 5 2.2.1 Strengthening economic and budgetary coordination 5 2.2.2 Towards a banking union 6 2.2.3 Effective crisis resolution mechanisms 6 2.3 Developments in the Internal Market and Central Policy areas 6 3 KEY DEVELOPMENTS IN EU TRADE POLICY (2011-2012) 10 3.1 Introduction10 3.2 WTO and the Multilateral Agenda 11 3.3 The Bilateral Trade Agenda 12 3.3.1 Comprehensive and modulated bilateral/reg