Percent is Germany`s share of world trade. China accounts for 11.8%, the United States 10.9% (2018) The Trade Policy Assessment Mechanism (TPRM) was included in the regulatory framework for international trade in 1994 and is one of the main instruments of the WTO. The aim is to make national trade policy more transparent and understandable and to ensure that our complex trading system runs smoothly. Cross-border trade makes it possible to use technological leadership. Exporters and customers benefit because they can choose from a wider variety of products that are right for them. The EU has exclusive competence in the area of trade in goods. As regards services and intellectual property, power is shared between the Commission and the Member States. The case law of the Court of Justice of the European Communities states that the European Commission and the Member States work closely together to ensure that Europe speaks with one voice, including at the WTO. That is why the European Commission organises trade policy in close coordination with the Member States. This coordination takes place every week at the meeting of the Trade Policy Committee of the European Council. The EU is currently working on modernising its trade defence instruments to more effectively protect European businesses and industrial centres against distortions of competition in international trade and against unfair trade practices and subsidies in other countries. In December 2017, a trilogue agreement was reached between the European Commission, the European Council and the European Parliament.
The European Commission`s objective is to negotiate balanced and modern free trade agreements with important international markets and high-growth regions. The aim is to strengthen the competitiveness of the European economy and boost growth and jobs in Europe. In 2019, bilateral trade between Germany and Vietnam amounted to around €14 billion. The stock of German direct investment in Vietnam amounted to around €840 million in 2017. More than 300 German companies are currently present in the Vietnamese market. The EU and Canada have signed the CETA FREE TRADE AGREEMENT The Trade Barriers Regulation gives companies the right to ask the Commission to investigate a trade barrier without obtaining permission from their association or ministry. If the request is accepted, an investigation is opened. As part of this investigation, the Commission is trying to determine whether the barrier challenged by the company actually exists and whether it has a negative effect or impact on a particular sector in the EU. If the complaint is confirmed and it is not possible to reach an amicable settlement, the EU may decide to initiate a formal dispute settlement procedure under an international agreement with the trading partner.
In addition to developing open markets, it is important to combat trade practices and subsidies from foreign countries that distort competition and to regularly update WTO and EU trade policy instruments. Anti-dumping measures and common EU rules on state-controlled direct investment aim to protect European companies and industrial centres more effectively against unfair competition. On this page you will find information on Germany`s participation in the WTO. . . .