The Council will discuss the state of play of the World Trade Organization (WTO) reform process and the ongoing negotiations. The EU is committed to the multilateral trading system and aims to play a leading role in the modernisation of the WTO. Nevertheless, the situation is still uncertain and the crisis is likely to deepen. For Hungary it is crucial to maintain the rules-based, open, predictable and transparent multilateral trading system and we support the EU’s efforts to modernise the WTO.
Ministers will exchange views on recent developments in the EU's trade relations with the United States and take stock of the implementation of the Juncker-Trump Joint Statement of 25 July 2018. Hungary considers it essential to pursue a positive agenda with the US and to avoid the escalation of trade tensions. Based on the negotiating directives adopted by the Council, we support negotiations on conformity assessment and are in favor of starting negotiations on the elimination of tariffs for industrial goods as soon as possible.
The Council will be informed about the state of play of preparations for the signature of the EU-Vietnam Free Trade agreement and the Investment Protection Agreement. Hungary looks forward to the early signature and application of these agreements which could contribute to the further growth of Hungarian exports to Vietnam and strengthen our trade and investment relations.
Over lunch, Ministers will follow up on the trade-related aspects of the European Council conclusions of 22 March 2019, including the International Procurement Instrument proposal. They will also discuss ongoing trade negotiations, in particular with Mercosur, Australia, New Zealand, Chile and Indonesia.
