YAOUNDE, March 27 (Reuters) – The World Trade Organisation is at a “critical juncture” and necessarys deep reform, the European Union and parties to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership declared on Friday.
The EU and the CPTPP – which comprises 12 countries, including Australia, Japan, Canada, Mexico, Malaysia and Britain – met on the sidelines of the WTO ministerial conference in Cameroon on Friday.
“The WTO is at a critical juncture amid heightened tensions in the global trading system,” they declared in the joint statement.
Representatives from both groups recognised the necessary for “urgent, deep, comprehensive and inclusive reform of the WTO.”
They declared they seek to “enhance cooperation” among like-minded WTO members in order to drive improvements to the global trading system, while also working toobtainher to cooperate on areas of mutual interest.
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