The Foreign Affairs Council, in its Trade configuration, held a meeting on Monday 27 November 2023, chaired by the Spanish Secretary of State for Trade, Xiana Méndez. The Commission was represented by Executive Vice President Valdis Dombrovskis.
We will soon sign the modernised EU-Chile agreement. This means another step forward in our relations with Latin America. And through the EU-New Zealand free trade agreement, we will also strengthen links with one of our closest partners in the Indo-Pacific region and in the world.
Xiana Méndez, Spanish Secretary of State for Trade
World Trade Organization
Ministers discussed the state of play of the preparations for the 13th Ministerial Conference of the World Trade Organization (MC13), which is scheduled to take place from 26 to 29 February 2024 in Abu Dhabi.
Executive Vice President Dombrovskis focused on the EU’s four key priorities for MC13:
- restoring a fully functioning Dispute Settlement Mechanism/Appellate Body. This is the EU’s number one reform priority for MC13. The EVP briefed Ministers on the state of play of the informal facilitator-led process in Geneva
- concluding the second phase of the Fisheries Subsidies negotiations and completing the ratification of the landmark deal reached at MC12 so it can enter into force by MC13
- the extension of the e-commerce moratorium and the e-commerce work programme, which go hand in hand
- launching a dedicated space for deliberation on state intervention and environmental sustainability, which have become pressing global trade policy challenges for the coming decades. Both are highly relevant topics to address under the WTO reform.
Other potential deliverables for MC13 would include: agriculture – focusing on food security – and development.
Trade agreement with Chile
The timeline for the adoption and signature of the interim trade agreement with Chile was also on the table. The Spanish Presidency informed ministers about the preparations for the adoption of the Council decision concerning the interim Trade Agreement (ITA) with Chile.
The agreement is expected to be signed in December. Coreper has recently confirmed the Council decision texts on the signing and conclusion of the deal and the forwarding of the draft Council decision on conclusion to the European Parliament for its consent.
- EU-Chile agreement (background information)
- Infographic – EU-US trade: See full infographic
EU-US trade relations
Ministers also discussed the state of play of the key issues in EU-US trade relations after the recent bilateral summit, as well as the way forward.
Ministers addressed the Global Arrangement on Sustainable Steel and Aluminium, on which it will be necessary to find a way forward that works for both sides. In this context, ministers also touched upon the issue of the continuation of the suspension of US “Section 232” measures and EU counterbalancing measures, as well as the related issue of the functioning of the US steel and aluminium quota regime. A decision regarding the extension of the suspension of EU counterbalancing measures is expected to be taken later in December, in the comitology context.
Furthermore, Ministers addressed the state of play in negotiations on the Critical Minerals Agreement. They supported the Commission’s efforts to find mutually acceptable solutions on the outstanding issues.
Once concluded, this Agreement should allow the EU to be treated as a “free trade agreement” partner for the purposes of US Inflation Reduction Act sourcing requirements for critical minerals used in electric vehicles.
The EU remains committed to advancing a positive, forward-looking transatlantic trade agenda, and the EU-US Trade and Technology Council (TTC) is of key importance in this respect. Ministers discussed possible deliverables for the upcoming meetings of the TTC as well as more strategic aspects of the TTC. The exact date of the next (5th) meeting of the TTC is yet to be determined.
Other business
On the basis of a Commission report, ministers were informed about the implementation and enforcement of the EU’s trade policy.
Ongoing trade negotiations
Over a working lunch, ministers discussed the state of play of ongoing trade negotiations and the agreements already negotiated and still pending.
- Infographic – EU trade negotiations: See full infographic
Meeting information
- Meeting n°3988
- Brussels
- 27 November 2023
Preparatory documents
Outcome documents
Press releases
- Import of fishery products: Council adopts autonomous EU tariff quotas for 2024 to 2026
- EU-New Zealand: Council gives final green light to free trade agreement