Redesigning the WTO: EU Seeks Pacific Partnership

European Commission President Ursula von der Leyen discussed the potential for collaboration with Pacific rim countries to revamp the WTO, currently facing challenges due to tariffs and geopolitical issues. She emphasized mutual interests with Asian nations and cooperation with the CPTPP to showcase possible free trade.

In a bold proposal, European Commission President Ursula von der Leyen has suggested that cooperation with Pacific rim countries could pave the way for a revitalization of the World Trade Organization (WTO), which is currently battling ongoing issues stemming from Trump-era tariffs and political tensions.

Von der Leyen articulated this vision at a press conference following an EU summit, indicating that both Asian countries and the European Union have expressed a keen interest in establishing a structured partnership.

Highlighting the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as an example, von der Leyen believes such collaborations could demonstrate the feasibility of engaging in free trade with a broad coalition of countries.

(With inputs from agencies.)