Ministers discussed the Commission’s proposal on the Modernization of Trade Defence Instruments. In line with the Hungarian position progress has been made towards adopting a common position within the Council this year in order to enable the start of trilogue negotiations with the European Parliament. Hungary stressed that the outcome of the Modernization of Trade Defence Instruments must strengthen the system and the protection of EU industry against unfair import trade practices. Trade Commissioner Cecilia Malmström introduced the recent proposal on a new antidumping calculation methodology.
On the basis of Commissioner Malmström’s update report ministers took stock of the state of play in the negotiations with the US on the Transatlantic Trade and Investment Partnership (TTIP). According to EU expectations the setting up of the new US administration will result in a natural pause in the negotiations at the beginning of 2017. The Commissioner did not want to enter into speculation regarding the position of president-elect Donald Trump on the continuation of the negotiations at a later point in time.
The Council discussed the state of play of the negotiations in the World Trade Organization (WTO) and the EU’s negotiating position. Hungary supported that the talks should focus in particular on the creation and updating of multilateral trade rules.
The Council was debriefed about the state of play in the negotiations on the Trade in Services Agreement (TiSA) and the Environmental Goods Agreement (EGA). Hungary considered the substance of these agreements to be more important than the speed of their negotiation. The outcome should be balanced for the EU and its Member States and properly reflect Hungarian sensitivities.
The Council overviewed the state of play in the free trade negotiations with Japan. The negotiations entered into their final phase and there is a good chance for their early finalization.
Ministers were also debriefed on the state of play of the free trade negotiations with Mercosur. The recently restarted negotiations are still at an early phase.
In the margins of the Council meeting the parties signed the accession protocol of Ecuador to the Free Trade Agreement between the EU and Peru and Columbia. The ratification process of the agreement will start after the signature.
