EU, Japan Bolster Alliance Against Unfair Trade
(MENAFN) The European Union and Japan declared on Wednesday their intention to enhance their partnership in response to what they described as “economic coercion” and “unfair trade practices.”
This announcement came during the EU-Japan Summit, highlighting a united front in tackling global economic challenges.
“We will also work more closely together to counter economic coercion and to address unfair trade practices,” stated European Commission President Ursula von der Leyen during a press briefing.
She was joined by European Council President Antonio Costa and Japanese Prime Minister Shigeru Ishiba in outlining the next steps for their joint efforts.
Von der Leyen raised concerns about mounting strain on two major fronts: the global economy and geopolitical affairs.
She referenced “growing trade tensions and uncertainty” in the economic realm, as well as “rising threats” to mutual stability and shared goals, “from the battlefields in Ukraine to the waters of the Indo-Pacific.”
Reaffirming Europe’s dedication to global economic competitiveness, von der Leyen emphasized that such prosperity should serve all nations.
She pointed out that the European Union is intensifying its collaboration with countries in the CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership).
The goal, she explained, is not just to safeguard open markets, but to collaboratively shape trade systems.
“The European Union and CPTPP countries can lead a meaningful reform of the WTO (World Trade Organization),” she remarked.
Together with Costa, von der Leyen endorsed the creation of a Competitive Alliance built on three foundational elements: enhancing EU-Japan trade ties, reinforcing joint economic resilience, and expanding collaboration on innovation, green initiatives, and digital development.
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