The European Parliament takes another step toward simplification and cutting red tape for European businesses through Omnibus IV

The Committee on International Trade (INTA) has voted on its Opinion regarding the Omnibus IV simplification package. As the Rapporteur for the Renew Europe group, I am pleased that we reached a compromise and that this Omnibus IV package, supported by the pro-European majority in the EP, brings significant benefits to the newly created category of companies: Small Mid-Cap companies (SMCs).

According to the adopted proposal to amend the Trade Defence Instruments (TDI) Regulations [(EU) 2016/1036 and (EU) 2016/1037], this new category of SMCs will receive the same level of support as Small and Medium-sized Enterprises (SMEs) in anti-dumping and anti-subsidy investigations, including the creation of a dedicated helpdesk. These measures, along with the full digitalization of the complaint-filing process and the alignment of investigation periods with a company’s financial year, reduce the financial and administrative burden and bolster the fight against unfair trade practices.

Now more than ever, the EU needs to cut red tape and simplify procedures to gain a competitive advantage. Simplification is the engine of the Single Market and the EU economy.