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World Trade Organization reform and preparations for the 13th WTO Ministerial
The Foreign Affairs (Trade) Council focused on the ongoing work on the reform of the World Trade Organization (WTO) and preparations for the 13th WTO Ministerial Conference.
Despite the challenging situation created by the Russian war of aggression against Ukraine, the previous WTO Ministerial Conference (Geneva, 12 to 17 June 2022) delivered positive outcomes on fisheries subsidies, the response to the Covid-19 pandemic, the WTO reform, food security and e-commerce.
The focus is now on how to use this positive outcome to advance the negotiations to prepare the 13th WTO Ministerial Conference.
Ministers agreed that the EU should play a leadership role in reforming the WTO and that the success of the Ministerial Conference will be key to reconfirming its central role in the multilateral trading system.
The Council had a strategic discussion on the priority work strands towards this Conference, in particular regarding:
the importance of the WTO reform process, above all, the re-establishment of a fully functioning dispute settlement system as soon as possible;
the strengthening of the monitoring and deliberative functions of the WTO;
the progress on the Joint Statement Initiatives (on Investment facilitation, E-commerce, and trade and environment);
the completion of the internal procedures for the EU ratification of the domestic regulation in services and the steps taken for a quick EU ratification of the fisheries subsidies agreement and;
the timing and venue for the Conference, among others.
The Council also expressed its continued support for the Commission's approach.
Ministers held a discussion on EU-US trade relations focused on the Trade and Technology Council (TTC), just ahead of the third meeting that will take place on 5 December in the US, and the repercussions of the discriminatory provisions contained in the US Inflation Reduction Act (IRA) on the EU and the related efforts to find solutions in that respect.
The TTC has served, among others, to coordinate measures being taken by the EU and the US in face of the Russian aggression against Ukraine. We are looking forward to agree on further tangible outcomes at the next TTC meeting as well as beyond. While remaining committed to a positive transatlantic agenda, we are very concerned about the likely significant impact of the US Inflation Reduction Act on the EU’s manufacturing base. We welcome the work towards finding credible solutions to the EU’s concerns and expect that the process will bring credible results very soon.
Jozef Síkela, Minister of Industry and Trade of the Czech Republic
Since the EU-US Summit in June 2021 both sides have taken important steps to reinvigorate their partnership like putting aside some high profile disputes and by establishing the TTC that has now become the cornerstone of a positive transatlantic trade agenda.
The TTC has served to coordinate measures being taken by the EU and the US in face of the Russian aggression against Ukraine in particular in the area of export controls. Further to this, we have agreed to expand our cooperation in areas like secure supply chains, technology standards, artificial intelligence, platform governance, environmental and climate aspects of trade and technology and trade barriers, among others. The challenge for the next meeting of the TTC on 5 December, as well as beyond, is to agree on even more tangible outcomes, both in the trade and technology pillars.
Member States underlined their concern about the discriminatory elements of the US IRA and likely significant repercussions on the competitiveness and investment decisions of the EU industry in particular as regards sectors of crucial importance for our transition to a green economy.
They welcomed the launching of work towards finding credible solutions to the EU’s concerns and expected that the process will yield results rapidly.
The ongoing talks on a Global Arrangement on Sustainable Steel and Aluminium were also mentioned. Ministers expressed their wish to see progress also in this file, so that the normal bilateral trade conditions for these two sectors can be re-established.
Transatlantic trade totalled 1.16 trillion EUR in 2021, surpassing the pre-pandemic levels by almost 10 %. This strength and resilience also relies on highly interconnected supply chains and 4.4 trillion EUR (2020) of mutual investment, according to the official data.
The Council held a policy debate on Trade support to Ukraine.
The main trade-related steps taken to Ukraine's recovery efforts were the suspension, for one year, of import duties on all Ukrainian exports to the EU and all EU anti-dumping and safeguard measures in place on Ukrainian steel exports from 4 June 2022 until 5 June 2023, the so-called autonomous trade measures-ATMs.
Ministers reiterated their strong condemnation of the war of aggression by the Russian Federation with the support of Belarus against Ukraine.
Delegations underlined the importance of supporting Ukraine in the trade area and broadly supported the Commission's approach on the matter.
The war is having a profound negative impact on the ability of Ukraine to trade due to the destruction of production capacity and the unavailability of transport means. Today we underlined the importance of supporting Ukraine also from the trade side.
Jozef Síkela, Minister of Industry and Trade of the Czech Republic
Among others, the Commission is considering the use of the Association Agreement and the Deep and Comprehensive Free Trade Agreement with Ukraine (AA/DCFTA) to ease its access to the EU Single Market following the EUCO mandate of 20-21 October, and the renewal of the autonomous measures.
The Council exchanged views on bilateral trade relations, including ongoing negotiations, over a working lunch. The discussions in this respect, including as regards bilateral trade agreements, are set to continue in the coming months.
The TTC has served, among others, to coordinate measures being taken by the EU and the US in face of the Russian aggression against Ukraine. We are looking forward to agree on further tangible outcomes at the next TTC meeting as well as beyond. While remaining committed to a positive transatlantic agenda, we are very concerned about the likely significant impact of the US Inflation Reduction Act on the EU’s manufacturing base. We welcome the work towards finding credible solutions to the EU’s concerns and expect that the process will bring credible results very soon.
