Delegations from the European Union and countries within the Comprehensive and Progressive Agreement for Trans-Pacific Partnership met on the sidelines of the World Trade Organisation ministerial conference in Cameroon on Friday, declaring that the WTO now stands at a "critical juncture" and requires deep reform.
In a joint statement, officials from the two blocs said they recognised the need for "urgent, deep, comprehensive and inclusive reform of the WTO." They added that members aim to "enhance cooperation" among like-minded WTO participants to help drive improvements in the global trading system.
The CPTPP group comprises 12 countries, including Australia, Japan, Canada, Mexico, Malaysia and Britain, and met with EU representatives to discuss a shared agenda. Participants emphasised working together on areas of common interest such as trade diversification and strengthening supply chain resilience.
Both the EU and CPTPP members expressed concern about what they characterised as "market-distorting practices" and oversupply in global markets, and they highlighted the risk posed by "economic coercion." These shared worries were a central part of the statement released following the meeting.
The joint communiqué also noted that EU and CPTPP member countries have been affected by tariffs imposed by the United States over the past year. Against that backdrop, the European Union has called for a review of the WTOs Most Favoured Nation principle, which requires trading partners to treat each other equally, citing concerns related to China.
EU Trade Commissioner Maros Sefcovic recently proposed that the bloc make low-tariff access to its markets for Chinese companies conditional on the Chinese economy being open to European businesses. That position was referenced in the wider discussion on rethinking established WTO norms.
Looking ahead, participants warned that failure to identify a credible path for WTO reform could prompt the EU, the CPTPP and other like-minded economies to deepen their cooperation independently and pursue trade agreements among willing members as a "plan B" if the Yaounde talks do not deliver meaningful progress. Swedens Trade Minister Benjamin Dousa said earlier that such an outcome was a possible response should negotiations stall.
The meeting underscores tensions within the global trading system and signals a coordinated effort by several major economies to push for broad changes to international trade governance while exploring closer collaboration outside the multilateral framework if necessary.
Key takeaways
- The EU and CPTPP called for comprehensive WTO reform and committed to greater cooperation among like-minded members.
- Shared concerns include market-distorting practices, oversupply and economic coercion, and recent U.S. tariffs have affected members of both groups.
- Absent a viable WTO reform path, participating economies may deepen bilateral or plurilateral arrangements as an alternative to stalled multilateral talks.