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Improving global value chains key for EU trade

Written by Krisztina Binder,

Improving global value chains key for EU trade

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Global value chains, and the related trade in intermediate goods and services, dominate today’s interconnected economy. Tragic events, such as the collapse of the Rana Plaza garment factory in 2013, have shed new light on the operation of these chains. Pressure is mounting on the various stakeholders involved at both national and international levels to prevent and mitigate the risks of the adverse effects linked to their functioning. Although a number of promising initiatives have been launched and some improvements have been made, much remains to be done.

Promotion of sustainability and responsible management of global value chains figure prominently on the agendas of organisations such as the United Nations (UN), the Organisation for Economic Co-operation and Development (OECD) and the International Labour Organization (ILO). The EU also plays a part. One of the main objectives of the EU is to integrate sustainability, with its various economic, social and environmental dimensions, into all relevant internal policies and external action.

Against this backdrop and building on its ongoing initiatives, existing policy frameworks and instruments, the EU is and has been encouraging efforts to promote sustainable value chains. How best to address this challenge is key to the EU’s new trade and investment strategy ‘Trade for all’. The new European Commission initiatives currently under development, such as the EU Garment Initiative and the EU Action Plan on Responsible Business Conduct, and the Council conclusions of May 2016 on Responsible Global Value Chains are in line with this endeavour.

Please click here for the full publication ‘Improving global value chains key for EU trade‘ in PDF format.

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The content of all documents (and articles) contained in this blog is the sole responsibility of the author and any opinions expressed therein do not necessarily represent the official position of the European Parliament. It is addressed to the Members and staff of the EP for their parliamentary work. Reproduction and translation for non-commercial purposes are authorised, provided the source is acknowledged and the European Parliament is given prior notice and sent a copy. Copyright © European Union, 2014. All rights reserved

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