Trade Ministers gathering in Nicosia under the Cyprus Presidency will prioritise preparations for the upcoming WTO Ministerial Conference and recalibrating EU-China trade ties, Cyprus’ Energy, Commerce and Industry Minister Michael Damianos said on Friday.
Opening the Informal Meeting of Trade Ministers (FAC) in Nicosia, Cyprus, Damianos set out an agenda centred on competitiveness, resilience and strategic autonomy amid what he described as “truly demanding geopolitical circumstances.”
“It is a great pleasure to be chairing this meeting of Trade Ministers of the European Union here in Nicosia today,” he said, noting that the session is the first trade ministers’ meeting under the Cyprus Presidency of the Council of the European Union.
“Our aim as a Cyprus Presidency is to promote a forward looking agenda aimed at strengthening the Union's competitiveness,” he added.
Cyprus has assumed the rotating presidency “under truly demanding geopolitical circumstances,” he said, pointing to instability in Europe’s neighbourhood and rapid shifts in the global order that have made “Europe's resilience more vital than ever.”
Under the motto “An autonomous union, open to the world,” Damianos said the Presidency is committed to helping the EU navigate uncertainty “with unity, clarity of purpose and an unwavering commitment to our shared values.”
Ministers will begin with preparations for the 14th WTO Ministerial Conference in Cameroon at the end of March.
“Let me be frank, the WTO remains the backbone of a predictable, rules based global economy, but it needs renewal,” the Cypriot Minister said.
In doorstep statements earlier Damianos noted that discussions would focus on “the ministerial committee meeting in Cameroon, that of the WTO that would take place at the end of March,” framing it as a key milestone for the EU’s trade policy.
China: ‘Derisking, not decoupling’
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EU-China trade relations will also be in focus, with Ministers expected to assess recent developments and future engagement.
“We will also take stock of EU China trade relations. Our approach is principled and pragmatic. We seek a relationship that is more balanced and more reciprocal,” Damianos said.
He stressed that the EU would “keep markets open, protect our security and critical technologies, and insist on a level playing field, tackling distortive subsidies and barriers while expanding avenues for fair competition.”
“Derisking, not decoupling, remains our compass,” he added, underlining that “Dialogue is essential, so is enforcement when dialogue fails. We will use both with care and with purpose.”
Bilateral trade and diversification
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In parallel, Ministers will review progress on bilateral trade negotiations and broader relations with key partners.
“We will close the day with a discussion on the Union's bilateral relations with its counterparts, where we're at and what needs to be done to further those agreements and those relations,” Damianos said.
He added that such agreements are “tools to diversify supply chains and open opportunities for SMEs.”
During a working lunch, trade relations with partners including the UAE, India and Mercosur are expected to be discussed.
Asked during doorstep on whether developments in the United States and if debates in several European countries over social media bans for young people could affect transatlantic ties, Damianos said the lunch would “discuss trade relations generally UAE, India, Mercosur, not necessarily the US.”
A press conference is set to take place once the meeting concludes.
CNA/TNE/EPH/2026
ENDS, CYPRUS NEWS AGENCY
