The European Union’s Foreign Affairs Council, in its Trade configuration, is meeting on the sidelines of the 14th Ministerial Conference (MC14) of the World Trade Organization (WTO), which will take place from 26 to 29 March in Yaounde, Cameroon.
The meeting will be chaired by Michael Damianos, Minister of Energy, Commerce and Industry of Cyprus, while the European Commission will be represented by Maroš Šefčovič, Commissioner for Trade and Economic Security, and Christophe Hansen, Commissioner for Agriculture and Food.
Meanwhile, the 14th WTO Ministerial Conference will bring together ministers from the WTO’s 166 member states to examine the challenges and opportunities within the multilateral trading system, as well as the organisation’s future work, including reforms aimed at modernising its structure and processes. The conference will be chaired by Luc Magloire Mbarga Atangana, Minister of Trade of Cameroon.
According to relevant information, discussions are expected to focus primarily on WTO reform, plurilateral initiatives, and approaches related to investment facilitation for development and e-commerce agreements. The agenda also includes the multilateral moratorium on customs duties on electronic transmissions, as well as development issues.
During the Council meeting, EU trade ministers are expected to approve a first set of conclusions outlining the EU’s expectations for the conference. Once the outcomes of MC14 are sufficiently clear, a second set of conclusions will be considered for approval.
It is added that the EU’s key priorities include WTO reform based on three pillars – predictability, fairness, and flexibility – to effectively address today’s global trade challenges, including issues related to industry, level playing field, digital trade, climate, biodiversity, and resilience, as well as the restoration of a fully functioning dispute settlement system.
Other priorities include the incorporation of plurilateral agreements, such as those on e-commerce, investment facilitation for development, and trade and environment, into the WTO’s legal framework. In addition, finding a stable and open-ended solution for the multilateral e-commerce moratorium is emphasised to ensure predictability and stability for businesses.
Special attention is also expected to be given to development and sustainability, aiming to strengthen the integration of developing countries into global trade and promote initiatives related to climate, environment, and sustainable trade.
A spokesperson for the Cyprus Presidency stated that, as preparations for MC14 in Yaounde intensify, effective coordination and full readiness are being ensured. The spokesperson also emphasised that, during the conference, the Presidency will work closely with Member States and EU institutions to develop a unified strategy that advances the EU’s key priorities.
(Source: CNA)
