Merz wants large-scale free trade agreement with Pacific region
Germany wants to decrease its economic dependence on China. Free trade agreements are a key aspect in this context. Federal Chancellor Merz made a proposal during his trip to Asia.
Singapore (dpa/d.de) – During his trip to Asia, Federal Chancellor Friedrich Merz called for a free trade agreement between the European Union (EU) and the Trans-Pacific Partnership (CPTPP). “Let us join forces to work towards a big inter-regional agreement with the members of the Trans-Pacific Partnership,” Merz said in Singapore where his visit included a meeting with Prime Minister Lawrence Wong.
A free trade agreement between the CPTPP and the EU would enable the parties to take account of their interconnected supply and production chains, Merz stated. He pointed out that the two sides represented over a third of global trade.
The CPTPP was established in 2018 to remove trade barriers. It has twelve member countries on five continents, including Canada, Australia, Chile and the United Kingdom. Their member states are home to close to 600 million people.
“In the long term we would like to realise a free trade agreement between the EU and Asean,” the Federal Chancellor added. Asean has eleven member states in Asia with a total population of close to 700 million. It is not up to the Federal Government to negotiate and conclude free trade agreements, but this is something that is handled by the EU for all member states. The 27 EU countries are home to a combined total of about 480 million people.
