European trade ministers are meeting in Brussels on Friday 9 November around an ambitious agenda, even if no major decision is expected.
Under the chairmanship of their Austrian counterpart, Margarete Schramböck, the ministers will conduct a follow up of the key files addressed during their informal meeting in Innsbruck in early October (see EUROPE 12111) and will take the pulse of the ongoing files on European trade policy.
WTO. First to be examined will be the modernisation of the World Trade Organization (WTO). The Council is also expected to draw up a European roadmap on this reform, which will be supported by the Europeans at the next G20 summit, in Buenos Aires on 30 November and 1 December.
European Trade Commissioner Cecilia Malmström will then review a wide range of ongoing trade negotiations.
On Mercosur, few changes are to be noted since the meeting in Innsbruck, but this will be the opportunity for the ministers to have an initial exchange of views on the future trade policy of Brazil's new president, Jair Bolsonaro (see EUROPE 12110).
The Commission will also inform the Council of the ongoing negotiations with Indonesia (see EUROPE 12130), Chile (see EUROPE 12039), Australia (see EUROPE 12073), New Zealand (see EUROPE 12130), Tunisia, and on the negotiations for an investment agreement with China.
According to several European sources, Malmström will speak about the Commission's discussions on the UN Commission on International Trade Law (UNCTAD), on the Mauritius Convention and the reform of the investor-state dispute settlement (ISDS) system in free trade agreements.
The Commission will then present its second report on implementation of the free trade agreements (see EUROPE 12129). According to diplomatic sources, the European chancelleries hailed this report, notably for the enlightenment it provides on the impact of the trade agreements on the agri-food industry and on small and medium-sized enterprises.
Screening foreign direct investment. The Austrian Presidency of the Council will take stock of the negotiations on two legislative files: - the politically sensitive proposal for a regulation on screening in the EU of foreign direct investment (see EUROPE 12130); - the horizontal regulation on bilateral safeguard arrangements, which is not expected to arouse major political debate (see EUROPE 12124).
On investment screening, the trilogue inter-institutional negotiations addressed the third, most delicate, cluster of these negotiations this week (see EUROPE 12130).
According to sources close to the file, the meeting enabled major progress on this cluster, notably on the list of strategic infrastructure, the screening factors and the role of the Commission. A few key elements – the entry into force of the regulation, the formalisation of the member states' experts group, and the 'third scenario' envisaged by the European Parliament – will be dealt with at the next meeting on 20 November.
USA. It is at lunch that the main dish of the ministerial meeting will be consumed – in other words, the trade relationship with the USA.
Nearly 120 days after the presidents of the European Commission, Jean-Claude Juncker, and European Council, Donald Tusk, considered avenues to improve transatlantic trade cooperation, several European sources speak of the uncertainty that reigns around the state of progress of the bilateral discussions, fostered by comments of US leaders (see EUROPE 12119).
Following the US mid-term elections, the EU ministers will focus on the progress desired (including increased regulatory cooperation) in this negotiation, and expected swiftly by Washington.
Malmström is moreover due to visit the US capital on 14 November to meet her counterpart, US Trade Representative Robert Lighthizer. (Original version in French by Hermine Donceel)