Positive developments in EU–US trade relations were highlighted on Friday morning in Brussels by Michalis Damianos, who is chairing the Foreign Affairs Council in its Trade configuration. The minister underlined that the Cypriot Presidency achieved a successful outcome in the negotiations on the joint EU–US statement, referring to the successful conclusion of the trilogue between the Council of the European Union and the European Parliament.
“I would first like to start with the positive news we had earlier this week from Strasbourg regarding the political agreement on the EU–US joint statement,” he said.
“As the Cypriot Presidency, we are proud to have managed to deliver a successful trilogue outcome, which will ensure stability and predictability in EU–US trade relations,” he added.
Referring to the Council’s agenda, Damianos noted that Ministers would first discuss the situation in the Middle East and its impact on trade. “We will begin with a discussion on the situation in the Middle East and its effect on trade, noting that we need to diversify and derisk,” he said, stressing the importance of diversification and risk reduction in European trade policy.
He further explained that Ministers would then address issues concerning the World Trade Organization, following what he described as the “regrettable outcome” of the MC14 ministerial conference in Cameroon last March, where no consensus was reached on systemic WTO reform or meaningful changes to the dispute settlement system.
On this point, Damianos said Ministers would exchange views on WTO reform, while adding that discussions over the working lunch would focus on EU trade agreements and relations with international partners. He also made special reference to relations with Mexico, noting that “today we are marking the successful conclusion of the EU agreement with Mexico, in Mexico City.”
Asked about EU relations with China, and specifically reports that the European Commission is considering lifting sanctions on a Chinese microchip supplier following pressure from the automotive industry, Damianos said that "we will see how the discussion evolves during the day. As I said, we need to derisk and be more flexible."
"These are matters that require further and detailed consideration,” he added.
In response to a follow-up question by CNA on whether EU–China trade relations would ultimately be discussed during the meeting, the chair of the Council replied that this “will not take place during the day.”
CNA/EK/EPH/2026
ENDS, CYPRUS NEWS AGENCY
