Angela Merkel praises G20 agreement on need for reform of world trade

German Chancellor Angela Merkel on Saturday said global leaders had agreed at the G20 summit in Buenos Aires on the need to reform the world body that regulates international trade disputes.

"Everyone is in agreement that the WTO (World Trade Organization) should be reformed. That is an important agreement," Merkel told reporters.

Merkel also said she met with Russian President Vladimir Putin and underscored her concern about recent events in the Kerch Strait, cite of a naval standoff between Russia and Ukraine, adding that all escalation should be avoided. 

(With inputs from agencies.)