EC member: There is still lot of untapped potential in trade relations between EU and EaP

By Trend

There is still lot of untapped potential in trade relations between the European Union (EU) and the Eastern Partnership (EaP) countries, Trend reports citing Cecilia Malmström, Member of the EC in charge of Trade.

She made the remarks during the panel discussions as part of the 10th anniversary of the Eastern Partnership High-level conference in Brussels May 14.

“Trade between us has increased. It has increased quite considerably. Because, of course, it offers possibilities for European companies, but also for Eastern Partnership countries to get access to the European market. However, there is a lot to do. There is still a lot of untapped potential in our trade relations. Of course, there is work to be done, reforms to be pursued. There is technical assistance to be provided from the EU. This will be good to unlock the potential that each country has vis-à-vis to the EU, but also vis-à-vis each other, because that is one of the other things to focus on for the future. The first one is of cource to implement what we have decided, to do the reforms that have been promised and to make sure that we really use the potential that is there in our different trade relations, but also to see how trade can increase between the six countries in the partnership. We will keep on providing information about the market access and the regulatory requirement in the EU, but also each of the six countries of the Eastern Partnership,” she said.