A Campaign For Global and Rules-based Multilateral Trade
The COVID-19 crisis has profoundly impacted people and the economy globally. Its long-term consequences are yet uncertain. What is clear is that it has affected the perception of governments and the general public on the benefits of globalisation. Border closures and the disruption of supply chains have put into doubt the capacity of our current trading system' ability to address the challenges created by the pandemic
The multilateral trade system's existential crisis pre-dates COVID-19. China and the US had already entered a cycle of trade retaliation measures which inevitably impacted other regions, including the EU. COVID-19 has acted as a catalyst, accelerating the rise of state interventions, the spread of criticism of multilateral trade, and the temptation of protectionism.
As the global economy is entering into a recession, there is a risk of uncoordinated state intervention leading to a more significant depression. When fuelled by higher tensions between economic blocs, it could undermine the fundamentals of the multilateral and rules-based system.
What is OpenEU
OpenEU gathers cross-sectoral organisations to advance open, rules-based and mutually beneficial trade by demonstrating the benefits of global supply chains and promoting EU leadership.
We propose seizing the momentum of the post-COVID-19 exit strategy by organising a campaign to influence the EU policy response and the discussion around the "Renewed trade for a stronger Europe" strategy. As part of this campaign OpenEU will:
maintain an ongoing open dialogue and regularly organise events with EU policymakers, stakeholders, and the media;
provide expertise and input for sound policymaking through active participation in fora and stakeholder workshops;
put together a group of supportive MEPs/MPs focusing on the principles of a successful trade strategy in a post-COVID-19 environment;
promote collaboration, knowledge capture and sharing between its members to anticipate and solve everyday challenges.
Shatter the myth of trade scepticism and protectionism;
Demonstrate the benefits of chosen regional supply chains Vs. trade defence & safeguard measures;
Develop and promote a multilateral and rules-based system.
Agile advocacy platform to push back against trade sceptics & to respond collectively on trade issues;
Media campaign on the benefits of chosen regional supply chains versus protectionism;
Prepare a dedicated working seminar with the upcoming DG Trade CEO to present OpenEU; briefing events with EU officials;
Create a group of supportive MEPs/MPs around the principles of a successful trade strategy in a post-COVID-19 environment.