Sefcovic: My First Trips as Trade Commissioner Will Be to USA and China

Strasbourg, November 27 (TASR-correspondent) - Maros Sefcovic, the Slovak Commissioner for Trade and Economic Security, has stated that he has no interest in engaging in trade wars with the United States, as he's seeking to further strengthen mutual economic relations, while in the case of China, he is committed to ensuring fair trade conditions for European companies, the TASR correspondent in Strasbourg has reported. A number of EU-member states have called for a strong economic portfolio in the new European Commission (EC), including trade and economic security. Sefcovic believes that key decisions will require the cooperation of the entire College of Commissioners, the president, member states and the European Parliament. According to Sefcovic, the EU is not self-sufficient in a number of strategic raw materials. As a result, the commissioner aims to work on a new type of trade agreement during his tenure. "This is a so-called net investment trade partnership, which we plan to offer to more countries, including those from the African continent," he said. The EU is seeking to reduce China's influence in third countries. "My task will be to formulate this new type of cooperation," he stated. Following Donald Trump's re-election, there has been talk of a possible trade war with the USA. However, Sefcovic stated that the EU has "absolutely no" interest in waging trade wars. "We want to propose a cooperation framework to strengthen our mutual economic relations. We are the closest allies, and our trade exchange is unprecedented and unparalleled in the world," he said. In recent years, the EU has sought to reduce its dependence on Russian gas by importing liquefied natural gas from the US, which is now the EU's largest exporter of this commodity. This will therefore be one of the most important topics for the Slovak commissioner in negotiations. The EU currently faces strained trade relations with its third largest trading partner, China. It will be crucial for Sefcovic to set "fairness in trade relations for companies" within the 27-member bloc, ensuring they compete on a level playing field with those from China, which the EU accuses of providing non-market subsidies. If Beijing fails to comply with the EU's terms, a so-called set of defensive economic instruments is being developed for the EU to use. Sefcovic's first trips as EU Commissioner for Trade and Economic Security will be to the USA and China. "These are trade relations that have a key impact on the health of the European economy," said the Slovak commissioner, who will also be in charge of inter-institutional relations and transparency in the new Commission. Another important objective for Sefcovic will be negotiating a trade agreement with South American countries (Mercosur). However, he warned that the negotiations, which have been going on for more than 20 years, are and will continue to be very challenging. He couldn't predict when an agreement may be reached. Lastly, he will focus on a major reform of the customs union, which will include full digitisation and the creation of a new database. lin/df/zel