Germany's Merz says EU to shape better offer as global trade order comes under pressure

German Chancellor Friedrich Merz ‌said ​on Friday that the European Union will take the lead in shaping a better offer ‌when free trade and the rules-based trading order come under pressure.

"We want to offer opportunities beyond bilateral agreements," Merz told the Asia-Pacific Conference of German Business ‌in Seoul. Germany was willing to act with like-minded partners in Europe and ‌elsewhere to defend and further develop the rules-based global economic order, Merz said.

He said that many countries owed their prosperity to international trade and were unwilling to ⁠give it ​up. Merz, on ⁠a week-long Asia tour that has also taken him to Singapore and Japan, held a ⁠summit with South Korean President Lee Jae Myung on Thursday.

The two leaders set ​out an enhanced security partnership. During his Asian trip, Merz has ⁠sought to deepen defence and economic ties with like-minded countries amid concerns over US tariffs ⁠and ​China's state-backed industrial expansion.

Merz said on Friday that the structural similarity between South Korean and German industries offered opportunities for deepening bilateral ⁠cooperation. South Korea's Industry Ministry said in a statement that South Korean and German ⁠companies and ⁠organisations signed nine memoranda of understanding to support startups and market entry in fields such as electricity, energy and ‌biohealth.