As from today, the Commission is introducing surveillance of imports into the EU of renewable fuel ethanol (‘bioethanol’). In the context of the economic downturn caused by COVID-19, imports of bioethanol have significantly increased in the last months, at low prices. The European bioethanol industry has provided evidence that a further increase in imports would cause economic damage to the sector. The Commission has therefore taken immediate steps to enable tracking of import volumes, which will enable the bioethanol industry to better assess the situation.
Executive Vice-President and Commissioner for Trade, Valdis Dombrovskis, said: “Our economies are still affected by the consequences of the pandemic and our recovery process should not be stalled by the distortive trade practices of third countries. This is why we must closely monitor any trade developments that potentially arise from unfair competition. This is the case with bioethanol today, but other industries may soon also require import surveillance so they can be better shielded from these unwelcome practices.”
The Commission’s surveillance of imports is not a measure which restricts imports. It provides quick monitoring of development of imports for specific products. The data will be made publically available. It should help industries to have a better overview of the situation in their sector and give them fact-based information to help them explore the need for further actions.
To read the full press release, click here.