EU trade ministers to discuss competitiveness, future of trade policy and EU–Africa trade relations

Finland’s Minister for Foreign Trade and Development Ville Tavio will attend a meeting of the EU Foreign Affairs Council in its trade configuration in Brussels on 30 May. EU trade ministers will discuss the links between trade and the EU’s competitiveness, the future of EU trade policy, and trade and investment relations between the EU and Africa. The ministers will also exchange views on the 13th Ministerial Conference of the World Trade Organization (WTO) held in Abu Dhabi in February.

At the meeting, EU trade ministers will discuss topical issues related to the Union’s competitiveness and the future of EU trade policy. Finland stresses the importance of open, fair, rules-based and responsible international trade for Europe’s competitiveness. The EU’s strategic competitiveness is based on further developing the Union’s strengths and ensuring the EU’s capacity for external action.

Finland’s trade policy objectives are to develop the WTO, conclude ambitious free trade agreements, improve market access for Finnish companies, diversify supply chains and promote open trade policy and market-based solutions.

The EU is making efforts to open up new markets by negotiating trade agreements and strengthening the rules for international trade.

“The EU should also seek other cooperation arrangements with its partner countries to promote the Union’s competitiveness and global influence in areas such as critical raw materials and digitalisation,” says Minister for Foreign Trade and Development Ville Tavio.

Trade ministers will also discuss ways to deepen trade and investment relations between the EU and Africa. Africa’s strategic, geopolitical, commercial and economic significance has increased in recent years. The EU is Africa’s most important trading partner and has a quite comprehensive network of trade agreements in Africa.

The EU’s trade with African countries has more than doubled over the past 20 years. Finland aims to strengthen trade relations and partnerships between the EU and Africa in strategically important issues.

“It is projected that a significant proportion of global economic growth will be generated in developing countries in the future. It is important that Finnish businesses will be able to take part in this growth better than before,” Tavio says.

During a working lunch, ministers will exchange views on the 13th WTO Ministerial Conference held in Abu Dhabi in February. Key issues for Finland include restoring the functioning of the WTO dispute settlement system, concluding a plurilateral agreement on electronic commerce, and streamlining and liberalising trade in environmental goods and services, which would benefit Finnish businesses.