On 13 and 14 October, Undersecretary for Economic and Development Affairs Mariin Ratnik represented Estonia at the informal meeting of EU trade ministers held in Horsens, Denmark, under the Foreign Affairs Council. The discussions centred on three major topics: EU–US trade relations, economic security, and ongoing free trade agreement negotiations.
In her remarks, Ratnik emphasised that trade tensions with the United States are regrettable. Nevertheless, the United States remains a key partner for both Estonia and the European Union in terms of security and trade. “Although the trade agreement between the EU and the US may not be ideal from a free trade perspective, it helps maintain a certain trade peace and contributes to the stability needed for investments. It is important to uphold what has been agreed,” Ratnik stated.
Speaking about economic security, Ratnik stressed that Russia’s aggression against Ukraine clearly demonstrates the need to reduce the EU’s critical dependencies on unfriendly states. “We must ensure reliable and resilient supply chains, particularly for securing access to critical raw materials.”
“Alongside economic security, it is vital to keep trade open with willing partners, and the European Union must continue actively pursuing its own free trade agreements,” she added.
The EU recently approved trade agreements with Ukraine and Moldova — a significant step towards comprehensive free trade with these countries. Negotiations on the Mercosur agreement are also nearing completion, which would considerably expand opportunities for EU businesses to strengthen economic ties with Brazil, Uruguay, Paraguay, and Argentina. In addition, negotiations with Mexico and Indonesia have been successfully concluded.
The future of the World Trade Organization (WTO) and the necessary reforms to the organisation were also discussed, with WTO Director-General Dr Ngozi Okonjo-Iweala participating in the talks.
More information about the 13–14 October EU trade ministers’ meeting is available here: https://danish-presidency.consilium.europa.eu/en/events/informal-meeting-of-trade-ministers-13-1410/
The photo (credit: Christian Falck Wolff) features Undersecretary Mariin Ratnik alongside Danish Minister of Foreign Affairs Lars Løkke Rasmussen.
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