German industry advocates open European and global markets

Source: Xinhua| 2020-01-21 22:59:24|Editor: Mu Xuequan
Video PlayerClose

BERLIN, Jan. 21 (Xinhua) -- The German economy is reliant on a strong Europe, which advocates open international markets but keeps its own market open, the Association of German Chambers of Industry and Commerce (DIHK) said on Tuesday.

In its trade policy, the newly-elected European Commission should take a proactive approach to open markets instead of promoting competition for closed borders, the DIHK noted. The European Union (EU) should provide "better market access to partners who respond to this offer."

For the German economy, maintaining and strengthening the World Trade Organization (WTO) is of "fundamental importance," the DIHK wrote in a statement on Europe's role in the global economy sent to Xinhua.

The association stressed that Europe would need a functional set of trade policy instruments in order to take effective countermeasures to protect companies in the event of unfair competition, such as price-dumping, illegal subsidies and WTO-adverse punitive tariffs.

Furthermore, new trade relations with the United Kingdom (UK) are essential to be as close as possible, especially in view of the country's imminent withdrawal from the EU.

In order for German and European companies to compete in global markets, it is necessary to review the existing rules of competition law and to establish equal and fair competitive conditions, the DIHK noted.

According to the association, "it is important to protect competition, not individual competitors."