Trade ministers from the EU’s 28 member states gave their backing on Tuesday 22 May for the launch of negotiations for trade accords with Australia and New Zealand, paving the way for formal talks to begin in the coming months. The announcement, which came following a meeting of the EU’s Foreign Affairs Council (Trade), was part of a packed agenda that also saw ministers endorse language on how to handle the negotiation of investment agreements in the future, namely whether these should be dealt with separately from trade accords and if so, how. Another key element of the Brussels discussions involved how to address trade tensions with the United States, particularly in light of a 1 June deadline for reaching a deal with Washington to avoid tariffs on imported steel and aluminium. (See Bridges Weekly, 9 May 2018 ) Australia, New Zealand officials welcome launch plans Now that the EU negotiating directives have been approved, EU Trade Commissioner Cecilia Malmström is due to travel to Australia and New Zealand for the formal trade talks’ launch next month, with a first negotiating round for each process set for July. “We are already close in terms of shared values and our open,...
Theme: GLOBAL ECONOMIC GOVERNANCE
Tags: Regional Trade Agreements (RTAs), Australia, European Union (EU), New Zealand, Regional Trade Agreements (RTAs)