Foreign Vice-Minister A. Zananavičius: Trade negotiations with the U.S. would benefit Lithuania
On 21-22 February, an informal meeting of trade ministers took place in Bucharest, Romania. The event was attended by the Vice-Minister of Foreign Affairs of Lithuania Albinas Zananavičius. Trade ministers discussed the EU-US trade relations and opportunities for modernizing the World Trade Organization (WTO).
“The EU must send a clear signal that it has done its homework and is now ready to negotiate with the United States. Thus, we have to immediately approve the mandates that will allow us to open mutually beneficial negotiations. Hopefully, the talks will offer an opportunity to solve also the issue of licenses restricting the U.S. liquefied natural gas (LNG) exports. We are interested in strengthening our energy cooperation,” said A. Zananavičius.
As regards modernizing the WTO, Lithuania emphasized the need to address the root causes of rising global trade tensions, primarily state policies incompatible with market economy conditions.
“It is necessary to collaborate with the U.S. to develop the WTO rules that would ensure a level playing field for the European and Lithuanian industry, when competing with companies that are unfairly subsidized by third countries. We also need to find a solution that would help ensure the work of the WTO's Appeals Court and would be acceptable to all the member nations of the WTO, including the U.S.,” said Lithuania’s Foreign Vice-Minister.
According to A. Zananavičius, the WTO must remain an effective dispute settlement gateway.
For more information about the General Affairs Council, please read here.