On May 1, 2024, as the Free Trade Agreement (FTA) between the EU and New Zealand takes effect, Thilo Brodtmann, VDMA Executive Director, heralds it as a beacon of hope for European machinery and equipment manufacturing.
Brodtmann emphasizes the agreement's role in slashing New Zealand's machinery tariffs and fostering fair competition. Nevertheless, he calls for enhanced EU commitment to expediting trade agreements and criticizes the prolonged stalling of vital pacts like the one with Mercosur states.
Brodtmann advocates for a streamlined approach, urging the EU to prioritize EU-only agreements to circumvent lengthy national ratification processes. He asserts that excessive politicization of trade agreements hampers progress and suggests separating social and environmental considerations from trade negotiations.
Brodtmann's remarks underscore the urgency for the EU to adopt a pragmatic stance and streamline its trade policy to bolster European industries and global economic integration.
