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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Axios has published the full 28-point framework drafted by the U.S. administration, outlining a proposed settlement between Ukraine and Russia built on security guarantees, territorial provisions and long-term economic arrangements.
South Africa and the European Union vowed to defend multilateralism on Thursday (November 20), ahead of the G20 summit, as they signed a partnership on critical minerals.
More international support is needed to stabilise the Palestinian fiscal situation, the European Commissioner for the Mediterranean Dubravka Suica said on Thursday (November 20).
Russian President Vladimir Putin visited the command post of the Russian forces “West” grouping on Thursday (November 20), meeting with Chief of Russia’s General Staff Valery Gerasimov and senior military officials, the Kremlin said.
Indonesian authorities evacuated more than 900 people from nearby villages and were helping 170 stranded climbers return safely after the eruption of Semeru volcano, one of the country's tallest mountains.
Iran's air force, heavily reliant on aging F-14A Tomcat jets, faces a growing technological gap as its neighbors rapidly modernize their air forces with advanced fighter jets and air defense systems.
A fresh wave of floods and landslides triggered by heavy rainfall in central Vietnam since the weekend has claimed at least eight lives, according to a government report on Wednesday. Traders have also cautioned that the extreme weather could disrupt the ongoing coffee harvest.
Germany has returned 12 royal-era cultural artefacts to Ethiopia in a ceremony in Addis Ababa, marking a formal step in ongoing cultural cooperation between the two countries.
Japan’s tourism sector is bracing for heavy economic fallout after China warned its citizens against visiting, setting off a wave of cancellations that analysts estimate could cost the economy more than $14.23 billion a year.
Axios has published the full 28-point framework drafted by the U.S. administration, outlining a proposed settlement between Ukraine and Russia built on security guarantees, territorial provisions and long-term economic arrangements.
South Africa and the European Union vowed to defend multilateralism on Thursday (November 20), ahead of the G20 summit, as they signed a partnership on critical minerals.
More international support is needed to stabilise the Palestinian fiscal situation, the European Commissioner for the Mediterranean Dubravka Suica said on Thursday (November 20).
Russian President Vladimir Putin visited the command post of the Russian forces “West” grouping on Thursday (November 20), meeting with Chief of Russia’s General Staff Valery Gerasimov and senior military officials, the Kremlin said.
The White House said on Thursday (November 20) that senior Trump administration officials met with Ukrainian representatives this past week to discuss a peace plan designed to be acceptable to both Ukraine and Russia.
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