EU and CPTPP Seek Urgent WTO Reform Amid Trade Tensions
EU and CPTPP members called for deep WTO reform during a meeting in Cameroon today. They seek to address market distortions and bolster supply chain resilience.
The World Trade Organisation (WTO) faces a pivotal moment as the European Union and members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) call for fundamental changes. Meeting on the sidelines of a ministerial conference in Cameroon, the two groups issued a joint statement declaring the global trading body to be at a critical juncture amid rising geopolitical and economic tensions.
The CPTPP coalition, which includes Australia, Japan, Canada, Mexico, Malaysia, and the United Kingdom, joined the EU in advocating for urgent and inclusive reform. The representatives emphasized a shared desire to enhance cooperation among like-minded nations to improve the global trading system, focusing on supply chain resilience and trade diversification.
