BERLIN, Jan 17 Reuters Germany39;s DIHK Chambers of Commerce and Industry is calling on the European Union to adopt an ambitious trade policy that supports companies in the bloc in their international business.

The current geopolitical challenges urgently require a reorientation of international trade policy, DIHK president Peter Adrian told Reuters on Wednesday.

The EU must adapt its trade strategy to the new global situation and take a proactive stance internationally in order to protect the interests of European companies, Adrian said.

The DIHK executive committee this week presented a catalogue of its demands for a more ambitious EU trade policy to help German firms abroad to the Bundestag lower house of parliament.

In 2021, only 44 of the EU39;s foreign trade was covered by trade agreements, with the majority based solely on the rules of the World Trade Organisation WTO, he noted.

New trade agreements for example with South American trade bloc Mercosur, India and Indonesia are key to securing trade and investment and opening up new markets, Adrian said.

The EU must resolutely counter the global trend towards isolationism, the DIHK said, adding that protectionism does not create jobs.

Germany39;s closely interlinked international economy is directly affected by this One in four German jobs depends on foreign trade, in industry it is even one in two, according to the DIHK.

Reporting by Maria Martinez Editing by Miranda Murray

Source Reuters