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Today, 25 May 2023, the EU External Affairs (Trade) Council met in Brussels. Cyprus was represented by the Director General of the Ministry of Energy, Trade and Industry, Mr. Marios Panagides.
The discussions focused on EU-US trade relations. In his intervention, Mr Panagides stressed the importance of promoting a positive transatlantic agenda. Referring to the 4th Ministerial Meeting of the EU-US Trade and Technology Council, to be held in Sweden between 30 and 31 May, he underlined the need to achieve tangible and mutually beneficial results. He further welcomed the efforts being made to mitigate the impact of the US inflation reduction legislation and called for permanent and sustainable solutions to trade disputes.
In the ensuing discussion on EU-China relations, Panagides acknowledged that China remains an important trading partner for the EU and shared the need for a multi-faceted approach with the country. He commented that due to the close economic ties, a disconnection strategy is not an option for the EU and in this context, he stressed the need for continued dialogue and cooperation with China, with a focus on results.
The Council was also briefed by the European Commission on the latest developments on World Trade Organization issues, with a focus on the preparation of the 13th WTO Ministerial Conference to be held in the United Arab Emirates in early 2024.
During a working lunch, the 27 had the opportunity to be informed and exchange views on the current state of the EU's bilateral trade relations with third countries. Particular emphasis was placed on the ongoing negotiations with Australia, India, Indonesia, Kenya and East and Southern African countries.
M/SX
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