Foreign Affairs Council, 08/05/2014, 8 May 2014

Trade discussions focused on Canada, Japan and environmental goods

The Foreign Affairs Council on 8 May 2014 focused on the progress made on EU trade agreements with Canada and Japan, and the liberalisation of trade in environmental goods and services.

The Council mainly discussed the Commission report on the latest developments and pending technical issues in negotiations on a comprehensive economic and trade agreement (CETA) with Canada.

The Council took note of the main elements of a Commission oral report on the Free Trade Agreement with Japan. When giving a mandate for the Commission to negotiate this agreement, in May 2013, the Council included a review clause on the effective elimination of non-tariff barriers by Japan. Ministers called on the Trade Policy Committee (TPC) to examine the report when available and assess if progress made by Japan is sufficient to pursue negotiations.

Alongside the free trade agreement discussions, Ministers welcomed progress made in the negotiations of a framework agreement to enable deeper political, global and sectorial cooperation between the EU and Japan.

EU ministers discussed the EU post-Bali's agenda and the opportunity to boost green trade around the world. They confirmed their support to the liberalisation of trade in environmental goods and services. They adopted conclusions on the expediency of a multilateral "green goods initiative", eliminating tariffs on a broad range of products positively contributing to green growth, environmental protection and sustainable development.

Over lunch, Karel De Gucht, EU Trade Commissioner, briefed the ministers on the progress made in negotiations with the United States on a Transatlantic Trade and Investment Partnership (TTIP). A fifth round of EU-US trade talks will start on 19 May.

About the Comprehensive Economic and Trade Agreement (CETA) with Canada

The agreement will remove 99% of tariffs barriers and create new market opportunities for trade in goods and services, and investments. Once implemented, the agreement is expected to increase bilateral trade in goods and services by 22.9% or €25.7 billion, fostering growth and employment on both sides of the Atlantic. A €11.6 billion annual increase in EU GDP is expected.

Other topics on the agenda

This meeting of the Foreign Affairs Council also looked at:

• the progress made on Economic Partnership Agreements with the West Africa, the East African Community and the South African Development Community
• the implementation of trade preferences for Croatia