KABUL (Pajhwok): The European Union will take the lead in developing a better global trade framework as free trade and the rules-based trading system face growing pressure, German Chancellor Friedrich Merz has said.
Reuters reported on Friday that Merz made the remarks at the German Asia-Pacific Business Conference in Seoul, the South Korean capital.
“We want to create opportunities that go beyond bilateral agreements,” Reuters quoted Merz as saying.
He added that Germany was ready to work with like-minded countries in Europe and other parts of the world to defend and further develop the rules-based global economic system.
Merz said many countries owed their prosperity and economic progress to international trade and did not want to lose these gains.
His remarks came during a week-long tour of Asia, which has taken him to Singapore, Japan and South Korea.
During the visits, he has emphasised the importance of expanding economic and defence cooperation.
On Thursday, he met South Korean President Lee Jae-myung, with both sides agreeing to establish a broader security partnership.
Merz said the structural similarities between German and South Korean industries offered significant opportunities to expand bilateral cooperation.
Meanwhile, South Korea’s Ministry of Trade, Industry and Energy announced that companies and organisations from the two countries had signed nine memorandums of understanding (MoUs) covering cooperation in supporting start-ups and facilitating market access, particularly in the electricity, energy and biohealth sectors.
The report said Merz was seeking to strengthen defence and economic ties with like-minded countries during his tour, amid concerns over US tariffs and the expansion of China’s state-supported industries.
sa
