The European Union and the United States have concluded negotiations to adjust the agricultural quotas of the World Trade Organisation (WTO) of the European Union, following the withdrawal of the United Kingdom from the EU. This is the culmination of two years of negotiations within the WTO to divide these EU quotas, with part of the volume remaining in the EU-27 and part going to the UK, based on recent trade flows. The agreement covers tens of quotas and billions of euros in trade, including beef, poultry, rice, dairy products, fruit and vegetables and wines.
Commenting on the agreement reached today in principle, Agriculture Commissioner Janusz Wojciejowski said: "I am pleased that we have reached an agreement with our most important trading partner, the United States. This agreement - made in the framework of the WTO - retains the original volumes but shares them between the EU and the United Kingdom. It gives certainty and stability to agricultural trade and our markets. I am particularly pleased that this agreement marks the significance of our trade and economic relationship. This sends a good signal of our commitment to work together both bilaterally and in the framework of the WTO. I want to thank my team and our American colleagues for a job well done".
The EU is conducting similar tariff quota sharing (TRQ) negotiations with 21 other partners who are entitled to access these quotas, and has already concluded negotiations with Argentina, Australia, Norway, Pakistan, Thailand, Indonesia and others.
Once the Commission has adopted the EU-US agreement, it will then be sent to the Council and the European Parliament for ratification, so that it can enter into force as soon as possible.