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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Lebanon has expelled Iran’s ambassador and declared him persona non grata, ordering his departure by 29 March, as tensions surge across the Middle East following intensifying cross-border violence.
The Iranian Foreign Minister Abbas Araghchi has stated Tehran’s stand on the latest developments in the Israel and the United States war in Iran following U.S. President Donald Trump’s announcement to postpone bombing the country's energy infrastructure.
Eurozone private sector growth almost stalled this month, a key survey showed on Tuesday, adding to evidence that the bloc is already feeling economic fallout from the U.S. and Israeli war with Iran, with inflation rising and growth slowing.
China is raising domestic petrol and diesel prices under temporary measures to manage a sharp surge in global oil costs, aiming to support fuel suppliers while maintaining market stability during a period of heightened volatility.
The pilot and co-pilot of an Air Canada Express regional jet were killed after it collided with a fire truck while landing at New York's LaGuardia airport late on Sunday, in an incident that closed the airport, authorities and U.S. media said.
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Georgia bid farewell to Catholicos-Patriarch Ilia II on Sunday (22 March). He was considered one of the most influential spiritual leaders in the country’s modern history.
The fallout from U.S. President Donald Trump's comment saying he had productive talks with Iran continues. Tehran denies they have happened. Oil prices carry on rising with countries reacting. Follow the updates throughout the day.
Qatar has confirmed that seven people, including four of its military personnel and three Turkish nationals, were killed on Sunday (22 March) when a helicopter crashed in the country’s territorial waters.
Eurozone private sector growth almost stalled this month, a key survey showed on Tuesday, adding to evidence that the bloc is already feeling economic fallout from the U.S. and Israeli war with Iran, with inflation rising and growth slowing.
China is raising domestic petrol and diesel prices under temporary measures to manage a sharp surge in global oil costs, aiming to support fuel suppliers while maintaining market stability during a period of heightened volatility.
Russia launched drones and missiles overnight on Tuesday at Ukraine, killing at least three people, damaging houses and triggering fires, Ukrainian officials said.
British Prime Minister Sir Keir Starmer said on Monday (23 March) that Britain must plan for the possibility that the Iran war could continue for some time, and added that he had no "meaningful concerns" about energy supply.
Australia and the European Union signed a trade deal on Tuesday that was eight years in the making, removing tariffs for almost all European goods and for nearly all exports of Australian critical minerals.
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