European Commission President Ursula von der Leyen said cooperation with Pacific rim countries could serve as a basis to redesign the World Trade Organization (WTO), which is struggling for relevance amid Trump tariffs and geopolitical tensions.
“The Asian countries want to have a structured corporation with the European Union and the European Union wants the same. And therefore I said that we can think about this as a beginning of redesigning the WTO,” von der Leyen told a press conference after an EU summit on Thursday.
“To show to the world that free trade with a large number of countries is possible.”
Von der Leyen referred to cooperation with the CPTPP, a trade agreement of 11 countries, including Australia, Canada, Chile and Singapore.
Source: Reuters
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