On 10 and 11 June 2024, like-minded members of the EU Council’s Trade Policy Committee held an informal meeting in Riga, bringing together trade experts from Austria, the Czech Republic, Denmark, Croatia, Estonia, Finland, Germany, Ireland, Luxembourg, Malta, the Netherlands, and Sweden. Participants discussed the impact of geopolitics on free trade and effective implementation of trade policy at the national and EU level.
Trade experts continued the discussion on the future of EU trade policy, which took place at the Foreign Affairs Council (Trade) meeting on 30 May, to find a new balance between economic resilience and efficiency and address challenges in global trade. Diversification of trade partners and sectoral partnerships were highlighted among the key solutions against the risks of new trade dependencies.
“In order to strengthen the competitiveness of our companies, we must promote coherence between the EU’s internal and external policies, especially considering our geopolitical priorities,” said Alise Balode, Director General of the Economic Relations, Trade and Development Cooperation Directorate.
The discussion also highlighted the rapidly changing state of global trade, which requires informed, dynamic and proactive action by policymakers. Participants were invited to share their best practices and effective mechanisms for promoting trade policy.
During the visit, trade experts also had an opportunity to learn more about Latvian business success stories at the Draugiem Group office in Torņakalns, where representatives from Mapon, DeskTime and Roadgames shared their export experience in the international markets.
Background information
Trade Policy Committee focuses on trade relations with third countries, including trade in goods and services, commercial aspects of intellectual property rights, international public procurement and foreign direct investment. Latvia belongs to the group of like-minded EU countries that support an open, ambitious and free trade policy.
