News

The Lithuanian Minister of Foreign Affairs Linas Linkevičius took part in an informal meeting of EU Ministers for Trade in Dublin on 17 and 18 April, and discussed topical issues of EU External Trade Policy.

One of the most important issues on the agenda was the future EU-U.S. negotiations for the Transatlantic Trade and Investment Partnership. The discussion was also attended by the U.S. White House Deputy National Security Advisor for International Economic Affairs Michael Froman and David O’Sullivan, the Chief Operating Officer of the European External Action Service.

All the EU member states mutually agree that the goal is to negotiate an ambitious and comprehensive Free Trade Agreement with the United States, with the following objectives: to reciprocally liberalise all trade in goods and services, to enhance access to public procurement markets, to remove non-tariff barriers to trade, and to harmonise technical regulations, standards and conformity.

“We very much welcome the fact that finally we are at the stage when intensive internal work is on-going on both sides of the Atlantic, confirming our mutual interest for the quick launch of negotiations that are so necessary for securing and promoting growth and employment. While this will not be an easy process, potential benefits are worth of every effort. It is true that negotiations “among equals” will require some difficult compromises. But, at the same time, it will also give us a unique opportunity to seek substantive and reciprocal market opening,” Linkevičius said at the discussion.

Currently, the EU and the U.S. are initiating the internal procedures necessary to launch the negotiations on the new Free Trade Agreement, which should be concluded in the coming months. It is expected that the negotiations will be officially announced at the EU-U.S. summit that will take place in June.  The first round of the EU-U.S. negotiations could take place already in July, during the term of Lithuania’s Presidency of the EU Council.

Lithuania and the United States have a positive trade balance, so further enhancement of the trading environment, the removal of tariff and non-tariff barriers to trade could significantly contribute to the growth of Lithuania’s exports and open up greater business and investment opportunities. The most promising Lithuanian export sectors to the U.S. are: processed agricultural and food products, chemicals products and furniture, electrical and electronic equipment.

The informal discussion with Pascal Lamy, Director-General of the World Trade Organization, focused on the preparations for the Ninth WTO Ministerial Conference, which is to be held on December 3 and 6 in Bali, Indonesia. The Conference will be a major event on trade policy this year. It will largely determine the future directions for the multilateral trading system. Lithuania’s incoming Presidency of the Council of the European Union will play a specific role aiming to reach a common European position on the issues that will be discussed at the Conference. The meetings of EU Ministers for Trade, which will be held in the margins of the WTO Ministerial Conference, will be chaired by the Lithuanian Minister of Foreign Affairs.