European Commission President Ursula von der Leyen has proposed using closer cooperation with Pacific rim countries as a foundation to redesign the World Trade Organization (WTO), citing rising trade tensions and global fragmentation.
Speaking after an EU summit on Thursday, Ursula von der Leyen said the European Union and Pacific countries share a strong interest in structured trade cooperation, which could help revive the struggling WTO.
"The Asian countries want to have a structured cooperation with the European Union and the European Union wants the same," she told reporters. "Therefore, I said that we can think about this as a beginning of redesigning the WTO."
She added that such efforts would "show to the world that free trade with a large number of countries is possible."
Von der Leyen pointed to ongoing cooperation with members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which includes Australia, Canada, Chile, Singapore and others, as a potential model for wider global trade reform.
The WTO has faced growing challenges amid a wave of U.S. tariffs under President Donald Trump and increasing geopolitical rifts that have stalled consensus on trade rules.
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