K. Budrys, the Lithuanian minister, has traveled to Cyprus to join a meeting of the informal EU Trade Council. This gathering will bring together ministers from 27 EU member states to discuss important trade relations between the EU and China, including ongoing negotiations for beneficial free trade agreements. The agenda also emphasizes the need for implementing trade agreements more efficiently between the EU and countries like India and those in the MERCOSUR bloc.

An important topic on the agenda will be the assurance of supply for critical minerals essential for manufacturing in Europe and the development of advanced technologies. The ministers plan to discuss the EU's negotiations with the United States regarding a critical raw materials agreement and the collective response to trade restrictions imposed by China. Besides, there will be a focus on preparations for the upcoming 14th World Trade Organization ministerial conference scheduled to take place in Cameroon in March.

Moreover, the discussions could potentially address the implementation of additional tariff rates on imports from Russia and Belarus, particularly concerning products such as iron, steel, inorganic chemicals, and potassium fertilizers. The meeting's informal nature, taking place in Cyprus following the country’s assumption of the EU Council presidency earlier this year, reflects the ongoing adjustments and collaborative efforts within the EU framework as member nations navigate complex global trade dynamics.