The Directorate-General for Trade (DG Trade) of the European Union (EU) has announced a significant expansion of its online Trade Assistant for Services and Investment. This expansion now encompasses a hundred service sectors and includes four key trading partners of the EU: Canada, Japan, Switzerland, and the United Kingdom.
EU-based businesses can now access a more comprehensive and user-friendly database of information, available in all 24 EU languages, providing detailed insights into the requirements for exporting specific services or investments to third countries. This resource is offered free of charge, empowering European enterprises, including small and medium-sized businesses, to navigate global markets while ensuring compliance with relevant regulations.
Hosted on DG Trade's Access2Markets website, the Trade Assistant for Services and Investment offers real-time information on country-specific market access conditions. This includes essential details such as licensing and authorization prerequisites, foreign equity limitations, legal entity requirements, nationality prerequisites, and work permit criteria. The information is organized into three modes of supply, simplifying the process for EU suppliers to access precise and relevant information tailored to their needs.
DG Trade has outlined its plans to further extend the capabilities of the Trade Assistant for Services and Investment tool. By the end of 2024, it will be expanded to include four additional key trading partners, and the goal is to cover a total of 16 countries by 2026.
This initiative underscores the EU's commitment to supporting its businesses in exploring international markets and fostering trade relations with strategic partners. The Trade Assistant tool equips EU enterprises with valuable resources to navigate complex regulatory landscapes, thereby facilitating smoother international business operations.
As global trade continues to evolve, the International Trade Council remains dedicated to monitoring and reporting on developments that impact international businesses and trade relations, ensuring that enterprises have the tools and information needed to thrive in the global marketplace.
