Report by the WTO Secretariat

At the time of its last Trade Policy Review, in April 2009, the European Union (EU) was in deep economic recession. In spite of intensified protectionist pressures, the EU maintained the overall openness and transparency of its trade and investment regime. Given the EU’s leadership position as the world’s largest trader, its decision to refrain from tightening restrictions on imports in response to the crisis had a stabilizing effect on the multilateral trading system. Nonetheless, some long-standing barriers to market access and other measures that distort international competition remain in place. The EU has a significant interest in undertaking further trade and investment liberalization, in line with its recognition that an open trade regime is vital to enhance external competitiveness and economic growth.