President Dalia Grybauskaitė

Seeking solutions for the EU-Canada agreement

2016-10-21

Friday, October 21, Brussels – President Dalia Grybauskaitė continues her working visit in Brussels where she is attending the European Council meeting. On the second day of the summit, the EU leaders are holding a discussion on economic issues and trade with global partners. 

One of the essential objectives is to find a solution acceptable to all sides on the EU’s free trade agreement with Canada, which has been blocked by the regional parliament of Wallonia. Intensive discussions are under way in the Walloon capital, Namur, between the local parliament, the Canadian government and the European Commission.

According to the President, a free trade deal with a G-7 country which has an economy larger than Russia’s would be clearly beneficial to the European Union. It is therefore necessary to seek ways to remove all the obstacles that prevent the signing of the agreement.

The President pointed out that the agreement was very important for Lithuanian exporters too because they could save a total of more than one million euros in customs taxes yearly. It would help attract new business investments and increase the volume of trade.

The EU is also negotiating free trade agreements with other countries, including the United States and Japan.

The consolidation of the EU’s internal market is also on the meeting’s agenda. Leaders have approved the European Council conclusions calling to complete the energy union, the single digital market and the union of capital markets by 2018.

Press Service of the President

Last updated 2016.10.21 15:02

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