On 22-23 October, Minister for Foreign Affairs and Trade, Helen McEntee TD, hosted her EU trade minister counterparts in Dublin for an informal meeting of the Foreign Affairs Council on Trade or FAC (Trade), taking place as part of Ireland’s ongoing Presidency of the Council of the European Union. As meeting chair, Minister McEntee facilitated opportunities to discuss, negotiate, and shape the EU’s trade policy over the two days.
Alongside her trade Minister counterparts, Minister McEntee was joined by European Commissioner for Trade and Economic Security; Interinstitutional Relations and Transparency, Maroš Šefčovič, where they exchanged views on the EU’s key trade and investment relationships throughout, including on deliverables arising from the EU-China Trade and Investment Consultation Mechanism.
Minister McEntee said: “Last week’s European Council meeting highlighted that there is still significant work to do to address current trade challenges. However, the progress made represents an important step forward in supporting a constructive and stable trade and investment relationship.”
Preserving a stable, predictable transatlantic trading environment is a key priority of the Irish Presidency, and was a core focus during the meeting, which also featured a high-level discussion on the EU-US trade and investment relationship. This is the most valuable relationship of its kind worldwide, with two-way trade flows valued at €1.8 trillion per annum.
On EU-US trade and investment, Minister McEntee said: “We had the chance to consider fully our trade and investment relations with the US, and I am glad there was broad consensus in the room that engagement and dialogue offer the best way forward to address the challenges facing both the EU and US. I look forward to continuing this dialogue when the FAC trade ministers meet again in Brussels at the end of November.”
The meeting was an also important opportunity to strengthen and diversify relations with reliable, global partners and considered a number of preferential EU trade agreements, in particular the ongoing negotiations with the Philippines, Malaysia, Thailand and the UAE. Ministers considered the prospects for consolidating trade agreements on a region-to-region basis, as well as broader cooperation on trade with like-minded partners.
The informal meeting followed on from a side event featuring a panel discussion between Minister McEntee, Commissioner Šefčovič, and Canada’s Minister for International Trade, Maninder Sidhu, considering benefits from recently concluded EU trade agreements, including the Comprehensive Economic and Trade Agreement, or CETA, with 2026 marking ten years since it was signed.
Minister McEntee thanked Minister Sidhu for his participation, as both sides prepare for the upcoming EU-Canada Summit, adding that: “In an era of geopolitical instability and global trade tensions, economic relationships built on predictability, transparency and mutual benefit, such as the one we enjoy with Canada, are more important than ever.
“Agreements like CETA not only have the potential to open new markets, improve supply chain resilience, and create high-value-added jobs, but also are one of our one of greatest levers in strengthening our global, regional, and bilateral relations. In the ten years since it was signed - CETA has been a step change in EU and Irish trade with Canada, and I want to see it grow even further.”
At the same side event, Minister McEntee also announced that she has commissioned the OECD to undertake a review of Women and Trade in Ireland.
The Minister stated: “At this event, I was really impressed by the strong panel of women business leaders who are using CETA and other trade agreements to expand their businesses. There is extraordinary potential for trade promotion and trade policies to support women’s economic empowerment. Where barriers to this goal of empowerments are identified, I want to develop the right policies to overcome them. That is why I am commissioning the OECD to review how women Irish women participate in the global economy.”
In addition, Minister McEntee hosted a strategic dialogue on life sciences, bringing together Commissioner Šefčovič, trade ministers from a number of EU Member States with significant pharmaceutical and medical devices sectors and industry representatives from the sector. Reflecting on the fact that pharmaceuticals and medtech account for 10% of EU GDP, the Minister sought to bring these key constituents together to foster an open dialogue and support a vibrant and resilient ecosystem.
Looking ahead to chairing the next FAC (Trade) meeting in Brussels on 30 November, Minister McEntee concluded: “I look forward to taking the positive momentum we have generated in Dublin into our next meeting, where the focus will remain on advancing Europe’s diversification priorities and supporting European competitiveness, resilience and economic security, to the benefit of all European citizens.”
Read more about the Informal meeting here: Minister McEntee hosts EU trade ministers in Dublin
For general press inquiries, contact Press.EUPresidency@dfa.ie.
Irish presidency website
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