Denmark’s international trade policy fundamentally aims at allowing more free trade on a global basis. The Danish economy, the global economy and the developing countries will all benefit from an increase in international trade. Denmark’s international trade policy is conducted in close co-operation with the other EU-countries. EU speaks with one voice in international trade negotiations, which gives EU impact in international trade fora.
Although international trade policy may be conducted bilaterally and regionally, Denmark and the EU remain fundamentally and clearly committed to multilateral negotiations. Thereby, the WTO - the World Trade Organization - is the primary focus of Denmark’s and EU’s trade policy. The WTO system creates an international legal system with legitimacy, and it provides the necessary guarantees for all actors in the global economy. It ensures the involvement of, and consideration for, developing countries. Furthermore it is important for Denmark that the WTO agreements can be enforced through WTO’s dispute settlement system. The alternative to WTO’s regulation of international economy is that “might is right”. Likewise, it is important for Denmark to continuously search for flexibility in agriculture and other important areas of negotiation.
WTO is the primary focus of Denmark's trade policy.
Trade and development
Denmark is among the most active trade liberal and development friendly Member States of the European Union. Accordingly, Denmark works within the European Union to promote common positions along these lines to help integrate developing countries into the multilateral trading system. Simultaneously, Denmark fully respects the fact that trade policy of the EC almost exclusively lies within the purview of community competence.
Accordingly, Denmark works within the European Union to promote common positions along these lines to help integrate developing countries into the multilateral trading system. Simultaneously, Denmark fully respects the fact that trade policy of the EC almost exclusively lies within the purview of community competence.
Bilateral and regional agreements
A number of trade related EU bilateral or regional agreements are presently finalized or under negotiation (i.a. EU-South African Republic, EU-Mexico, EU-Mercosur, EU-Canada, EU-Arab Gulf States).
The bilateral agreements constitute an important complement to the results obtained in the multilateral WTO negotiations. Although important, EU's bilateral agreements do not have a very significant impact on Danish economy generally speaking.
Almost 70% of the Danish foreign trade is with other EU countries or EU acceding countries. The most important other markets such as the USA, Canada, Japan and China are not presently covered by EU bilateral or regional agreements. The main focus for Denmark and the EU in the international trade negotiations remains multilateral.