The European Commission (EC) has proposed the creation of a European-Asian bloc based on free trade principles and World Trade Organization (WTO) norms, which would serve as a Western alternative to BRICS. This was announced by EC President Ursula von der Leyen.
“We could consider the beginning of WTO restructuring, with an understanding of what exactly needs to be reviewed in the WTO, without repeating past mistakes. To show the whole world that free trade between a large number of countries is possible on the basis of rules. Since together the EU and the CPTP [the countries of the Comprehensive and Progressive Agreement on the Trans-Pacific Partnership – ed.] is power,” said Ursula von der Leyen (quoted by TASS).
The head of the European Commission noted that the WTO includes 12 countries, such as the United Kingdom, Australia, Canada, New Zealand, Japan, Chile, Malaysia, Mexico, Peru, Singapore, Vietnam, and Brunei.
According to Ursula von der Leyen, the project was initially created as a counterbalance to BRICS, but the organization has not yet achieved the same level of momentum.
Earlier, the Brazilian Ministry of Foreign Affairs announced that Vietnam had joined BRICS as a partner country.
