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On 5 November, Minister of Foreign Affairs Kęstutis Budrys met with Isabel Riaño Ibanez, Director-General for Competitiveness and Trade at the General Secretariat of the Council of the EU, to discuss preparations for Lithuania’s Presidency of the Council of the EU. The Minister and the Council representative discussed the EU’s trade and economic security agenda, relations with the United States and China, as well as new measures to reduce the Union’s strategic dependencies.

“European competitiveness and economic security are two sides of the same coin. Open trade is one of Europe’s strengths, but at the same time we must be prepared to protect our economy, technologies and supply chains from geopolitical risks,” Budrys said.

The Minister stressed that during its Presidency, Lithuania would pay particular attention to economic security and strengthening the EU’s resilience. Budrys emphasised that Lithuania’s objective during the Presidency will be to achieve tangible progress in strengthening the EU’s economic security, opening up new opportunities for businesses and ensuring that Europe remains competitive in an increasingly fragmented world.

“Europe must not only respond to risks but also anticipate and prevent them in a timely manner. We therefore support stronger coordination among Member States on economic security and measures that would help reduce strategic dependencies on unreliable partners,” Lithuania’s Foreign Minister said.

Discussing relations with the United States, the importance of maintaining a constructive dialogue, consistently implementing common agreements and avoiding unnecessary trade disputes was emphasised.

“The transatlantic relationship remains a cornerstone of Europe’s economic and defence security. Our objective is more cooperation and fewer barriers to trade and investment,” Budrys noted.

The meeting also covered the processes relating to free trade agreements with Australia, the Philippines and Canada. The Minister stressed that diversification is part of security policy. According to Budrys, the more reliable partners Europe has around the world, the stronger and more resilient it will be.