EU Trade Deals in Need of a Digital Update

EU Trade Commissioner Maros Sefcovic has called for the modernization of the EU's free trade agreements to incorporate sectors such as e-commerce and digital trade. These areas have gained significant importance since the deals were originally crafted.

Sefcovic emphasized that the current agreements do not adequately cover new sectors that have emerged in recent years, primarily due to the lack of significant e-commerce presence when they were conceived. He stated that the traditional focus of these agreements needs to evolve to stay relevant in today's digital age.

The move to update trade agreements is seen as a necessary step to ensure that the EU remains competitive in the rapidly changing landscape of global commerce.

(With inputs from agencies.)