Meretz calls for a giant trade agreement between the European Union and Asia

At the beginning of his Asian tour, German Chancellor Friedrich Merz called for concluding a free trade agreement between the European Union and the countries of the Trans-Pacific Partnership agreement, which includes 12 countries.

Mertz said during a press conference during his visit to Singapore: “Let us work together to reach a broad regional agreement with the members of the Trans-Pacific Partnership.”

Mertz called for linking the trade agreements concluded by the European Union with individual countries with each other, with the aim of increasing their efficiency. He said: “The European Union concludes free trade agreements with Indonesia, the Philippines, India, Australia, and Malaysia, to name a few. I do not want us to stop there.”

The Trans-Pacific Partnership, officially known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP, represents a new trading club that includes countries on five continents, including Canada, Australia, Chile and Britain, with a total population of 500 million people.

“Open Market Access”

Merz said the EU, which has 450 million consumers, has strategic interests in cooperation on open market access, including cooperation with members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

Mertz added that European and Asian countries must determine their position in light of the changing global order, saying: “We must defend our interests in an international environment characterized by the return of competition between major powers.”

He stressed that, in light of the changes taking place in the world, the European Union seeks to establish closer partnerships, including with the Association of Southeast Asian Nations (ASEAN).

ASEAN includes 11 Asian countries with a total population of about 700 million people.

'They will continue to invest'

For his part, Singapore Prime Minister Lawrence Wong confirmed that investments in Germany and Europe will continue, adding that "many of our investors, including sovereign wealth funds, have been investing in Germany for a long time."

He said that these investors "will continue to invest because they are confident that Germany and Europe have promising potential in the long term."

Mertz and Wong agreed that the two countries would work to expand cooperation in the areas of security and defense, as well as trade, investment, sustainable energy and artificial intelligence.

Germany is Singapore's most important trading partner in Europe, while Singapore ranks fourth among Germany's trading partners in Southeast Asia.