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The informal EU Foreign Affairs Council, composed of Trade Ministers, met today in Brussels. Cyprus was represented by the Director General of the Ministry of Energy, Trade and Industry, Mr. Marios Panagides.
The discussions focused on preparations for the 13th Ministerial Conference of the World Trade Organization to be held in Abu Dhabi between 26 and 29 February 2024. In his intervention, Panagides stressed the importance of achieving tangible results and welcomed the European Commission's efforts in this direction. In this context, he particularly underlined the need for a functioning two-stage dispute settlement mechanism, the completion of negotiations on the ban on harmful subsidies in fisheries and the promotion of joint declaration initiatives with a focus on e-commerce.
In the ensuing debate on the Open Strategic Autonomy, Panagides acknowledged the challenges the EU faces, particularly with regard to the two-way transition, while commenting on the important role of trade policy and international partnerships in strengthening the EU's economic security. In particular, he underlined the need to diversify and strengthen the resilience of supply chains by expanding the network of EU trade agreements, the effective use of the existing EU toolbox in addressing identified risks and close cooperation between the European Commission and Member States in risk assessment.
Finally, 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 as well as on the progress achieved on a number of legislative proposals.
(B]PIO[/B]
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