EU countries approve international procurement tool

The EU’s top representatives today gave the green light to the EU’s proposed international procurement instrument, which aims to ensure reciprocity in global procurement markets.

The trade defense tool will allow the EU to push countries outside the bloc to open their public procurement markets by threatening to close Europe’s own highly lucrative market in retaliation.

The French presidency of the Council of the EU sealed a political deal on the file mid-March. This was approved by EU countries today, the French presidency tweeted.

The European Parliament is set to vote on the instrument during a plenary session either in May or June, the Parliament’s trade chair Bernd Lange said earlier. Once the provisional agreement is also approved in the Parliament, the measures can come into force.