News

On 23 October in Dublin, Minister of Foreign Affairs Kęstutis Budrys met Estonian Minister of Economic Affairs and Industry Liina Vahtras. The Ministers discussed European Union (EU) trade policy priorities, strengthening transatlantic economic ties, economic security and a common EU approach to addressing the challenges posed by China.

 

During the meeting, Budrys stressed that the Baltic States must act together to maintain a strong and forward-looking EU-US trade partnership.

 

“The Baltic States have always been staunch supporters of the transatlantic relationship. Today, as tensions in international trade and geopolitical challenges increase, we must actively contribute to shaping a positive EU-US trade agenda and strengthen cooperation on economic security,” Budrys said.

 

The Ministers also discussed strengthening Europe’s economic resilience and measures to protect European industry from unfair competition and reduce strategic dependencies.

 

“The European Union must be prepared to defend its economic interests. We must consistently strengthen our trade and economic security instruments to help ensure fair competition, protect critical supply chains and increase Europe’s resilience to external pressure,” Budrys said.

 

The Lithuanian Foreign Minister and his Estonian counterpart also discussed the establishment of an Economic Security Working Party within the Council of the EU. According to Budrys, this would help ensure more consistent coordination of economic security issues and strengthen the EU’s ability to respond promptly to emerging risks and economic shocks.

 

The Ministers also discussed the need to expand the EU’s network of free trade agreements and seek new opportunities for European businesses. According to Budrys, a more resilient, competitive and open trading Europe is important for both economic growth and Europe’s long-term security.