UK Foreign Secretary David Lammy Prioritizes European Reset in Foreign Policy
In a significant shift in foreign policy, UK Foreign Secretary David Lammy has emphasized that a European reset is the top priority for the UK. This move is seen as an attempt to strengthen ties with the European Union, particularly in the areas of trade and economic cooperation.
The UK's decision to leave the EU has led to a significant decline in trade between the two entities. However, with the new government in place, there is a renewed focus on rebuilding relationships with the EU. Lammy's statement highlights the UK's commitment to strengthening ties with its European neighbors.
A recent policy brief by Bruegel, a European think tank, outlines a trade policy framework for the EU-UK reset ¹. The brief recommends that the EU and the UK establish a ministerial forum to discuss global trade and economic challenges. This forum would provide a platform for the two sides to cooperate on issues such as WTO reform, trade and climate, and trade and industrial policies.
The policy brief identifies three key areas for cooperation between the EU and the UK:
- *WTO Reform and Economic Security*: The EU and the UK should cooperate to ensure that the WTO remains relevant and effective in promoting free trade and economic security.
- *Trade and Climate*: The two sides should work together to promote international cooperation on carbon pricing and to develop a joint diplomatic initiative to reinforce international cooperation on carbon pricing.
- *Trade and Industrial Policies*: The EU and the UK should cooperate to develop guidance on the implementation of the TCA level playing field provisions on subsidies, which would provide greater predictability for businesses and investors.
The UK's decision to prioritize a European reset in its foreign policy marks a new chapter in EU-UK relations. With a renewed focus on cooperation and mutual benefit, the two sides can work together to promote economic growth, stability, and security in the region.
As the UK and the EU move forward in their negotiations, it is clear that there are significant opportunities for mutual gain. By working together, the two sides can create a more stable and prosperous future for all.
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