WTO at a Crossroads: Call for Comprehensive Reform

The EU and CPTPP highlight the necessity for comprehensive reform of the World Trade Organisation. In a joint statement, they emphasize urgent changes amidst current global trading system tensions, advocating for enhanced cooperation to improve international trade dynamics.

The World Trade Organisation (WTO) is facing critical challenges that call for significant reform, as declared by the European Union and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on Friday.

During the WTO ministerial conference held in Cameroon, representatives from the EU and CPTPP, which includes member countries such as Australia, Japan, Canada, Mexico, Malaysia, and Britain, stressed the organization's urgent need for thorough transformation amidst escalating global trade tensions.

Both groups are committed to enhancing collaboration among WTO members to bring about advancements in the world trading system, focusing on areas of mutual interest and fostering cooperation for the betterment of international economic exchanges.

(With inputs from agencies.)