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3.12. (...) The EU considers that the future agreement could benefit all WTO members, notably developing countries, as they seek to attract foreign direct investment and bridge the current "investment gap" in order to reach the SDGs. (...)

3.18. Besides the work on improving the practical functioning of WTO bodies, the EU sees the need for more meaningful policy deliberation on major pressing trade policy challenges to help build convergence. To name a few areas: the nexus between trade and climate, (...)

3.24. (...) A new approach in the agricultural negotiations post MC12 is needed: integrating issues of food security, environment, climate, poverty and sustainable production.

3.25. The EU believes that the WTO must help to address the urgent challenges of climate change and environmental sustainability. The EU has co-sponsored and been actively engaged in the Trade and Environmental sustainability structured discussions, Informal Dialogue on the Plastics Pollution and Sustainable Plastics Trade and the Fossil Fuel Subsidy Reform initiatives in the WTO in this regard.

3.26. Trade and Environmental Sustainability structured Discussions can contribute by considering how trade related climate measures and policies can be designed in a way that maximises environmental and climate impact at the same time limiting impacts on trade; explore approaches for facilitating access to environmental goods and services; identify trade policy actions that can contribute to transition to resource efficient and circular economy; and exploring the ways to enhancing transparency on subsidies and exchange best practices in design environmentally positive subsidies in conformity with relevant WTO rules.

3.27. The Fossil Fuel Subsidy Reform initiative shows the way how the WTO can play a role in reducing harmful fossil fuel subsidies, while taking into account the development and social aspects and as a first step to increase transparency on fossil fuel subsidies.

3.28. The Informal Dialogue on the Plastics Pollution will help shape understanding of global trade in plastics, including flows of plastics embedded in internationally traded goods and how the WTO can contribute to the United Nations Environment Assembly (UNEA) process to end plastic pollution.

3.29. The EU is also one of the initiating members (together with Ecuador, Kenya and New Zealand) launching the Coalition of Trade Ministers on Climate. The Climate Coalition was officially launched during the World Economic Forum Annual Meeting in Davos on 19 January 2023. The coalition establishes a high-level political dialogue providing guidance on how trade and trade policies can help respond to the climate crisis, sustainable development and contribute to the just transition.

3.30. Beyond its participation in different plurilateral initiatives, the EU is convinced of the importance of reinforcing multilateral deliberation in the WTO on critical trade and environmental challenges in particular those related to the climate transition. The WTO Committee on Trade and Environment could play a critical role in this regard.

3.41. The EU-UK Trade and Cooperation Agreement (TCA) concluded between the EU and the UK was applied provisionally as of 1 January 2021 and entered into force on 1 May 2021. It includes preferential trade commitments in trade (...) Those commitments are underpinned by provisions ensuring a level playing field and sustainable development (LPFS). The TCA goes beyond trade and it also covers energy, fisheries, (...)