Foreign Vice-Minister A. Zananavičius: the EU and US have to join forces to strengthen the global trading system

Created: 2018.11.09 / Updated: 2018.11.12 17:00
    Foreign Vice-Minister A. Zananavičius: the EU and US have to join forces to strengthen the global trading system

    On 9 November, the Vice-Minister of Foreign Affairs of Lithuania Albinas Zananavičius participated in the EU Foreign Affairs Council (Trade).

    Trade ministers discussed the importance of the EU‘s leadership in protecting and strengthening the multilateral trading system, which is currently in a deadlock situation with regard to both the negotiating stalemate and its crippled dispute settlement system.

    "We need to join forces with the United States and do our best to preserve an effective and efficient World Trade Organization that would be able to modernize and continuously update its rules of trade between nations. First of all, it is necessary to establish some international competition rules that would ensure a level playing field for all parties and upgrade the WTO dispute settlement system," said the Foreign Vice-Minister.

    Lithuania supports transatlantic cooperation to establish new global rules on industrial subsidies, State-owned enterprises, in order to avoid protectionism in a digital world.

    "Better opportunities for LNG imports from the U.S.A. will contribute to the implementation of the EU's strategic goal of diversifying its energy sources, and of creating better conditions for consumers," said the Lithuanian Foreign Vice-Minister, who emphasized the importance of strengthening the EU-U.S. energy cooperation in his speech.

    The Vice-Minister A. Zananavičius also stressed the need to encourage our closest partners in the neighborhood to adopt the EU rules, which would reinforce closer cooperation.

    "We need to support the efforts of the EU partners in implementing the ambitious provisions set out in the Deep and Comprehensive Free Trade Agreements (DCFTAs) with the Eastern Partnership countries," said Lithuania's Foreign Vice-Minister.

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