Europe has agreed agricultural quotas with the United States
On Monday, the European Commission (EC) drew attention to the end of the process of biennial negotiations on the adjustment of World Trade Organization (WTO) agricultural quotas between the European Union and the United States in connection with the United Kingdom’s withdrawal from the Union.
The Commission has stated that this is the culmination of an ongoing process within the WTO to allocate the quotas of the originally 28-member EU. The quotas have been allocated on the basis of recent trade flows, with part of the quotas remaining in the EU and some for the United Kingdom.
The agreement covers dozens of different quotas worth several billion euros, including quotas for trade in beef and poultry, rice, dairy products, fruit and vegetables and wines.
In this context, EU Commissioner for Agriculture Janusz Wojciechowski praised the EU’s agreement with the US, its most important trading partner. “The WTO agreement preserves the original volumes but divides them between the EU and Britain. It provides security and stability for agriculture and our markets,” the commissioner said.
According to him, this agreement also confirmed the importance of trade and economic European-American relations and sent a good signal about the joint commitment of both parties to cooperate bilaterally within the WTO.