Press Release: Improving trade in processed agricultural goods

On 11 March 2014, the European Commission welcomed European Parliament vote on its proposal to update the trade regime for processed agricultural products (PAPs).

PAPs are goods obtained through the processing of basic agricultural products. The EU is the world’s biggest exporter of processed agricultural products. The new regulation will facilitate the trade of PAPS between the EU and non-EU countries. Its aim is to update the legal framework for the implementation of EU preferential trade agreements concluded with non-EU countries. It also provides for export refunds to be granted to some PAPs when market disturbances occur (for example a collapse in world agricultural product prices as a result of an abundant harvest).