Presidency for organising today’s Informal Meeting of #EU Trade Ministers. Excellent discussion on the role of trade in future recovery, and ongoing #EUTradeReview process.
On 21 September, EU ministers responsible for trade convened for an informal meeting in Berlin. The meeting within the framework of Germany’s Presidency of the Council of the EU was chaired by German Minister for Economic Affairs Peter Altmaier.
Among the participants were the designated EUCommissioner for Trade and Executive Vice-President of the European Commission, Valdis Dombrovskis, the EU Commissioner for Internal Market, Thierry Breton.
EU Trade Ministers meet in Berlin and discussion on a renewed EU trade policy. Today’s meeting is a good opportunity to reflect changes needed in EU’s trade policy after Covid-19. It is crucial that the EU remains open for International trade and investments
The Informal Meeting of EU Trade Ministers is starting in Berlin today, with most of the talks taking place tomorrow.
What are the origins of the World Trade Organization and what reforms are planned? Our series “Looking back, looking ahead” seeks to answer these questions on the occasion of the Informal Meeting of EUTrade Ministers on 20-21 September in Berlin.
The WTO is an international organisation that has focused on the regulation of global trade and economic relations since its foundation. It was established as a successor to the General Agreement on Tariffs and Trade (GATT), but with a broader objective. Since 1995, it has been based in Geneva and has functioned as an independent organisation working closely with the United Nations. It currently has 164 member states, including the largest economic areas in the world: the European Union, China, the United States and Japan. The youngest member is Afghanistan, which joined in 2016.
Federal Minister Peter Altmaier said:
Especially in the current crisis, our enterprises need open markets and a reliable and strong multilateral trading system. The COVID-19 crisis has reminded us of the importance of international trade for both our supply of essential goods and our prosperity. At the same time, it has highlighted the vulnerabilities of the supply and value chains. We need to draw lessons from this crisis and strengthen and expand our trade relations by means of modern free trade and investment protection agreements and a strong World Trade Organization. This is the only way to make our supply and value chains more resilient. Open markets and free trade are the driving forces to lead Europe out of the crisis.