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Story summary
- The European Union and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership urged urgent World Trade Organization reforms at a March 27 Yaounde, Cameroon.
- They described the WTO as at a "critical juncture" while raising concerns about the Most Favoured Nation principle, especially regarding China.
- The EU and CPTPP will pursue cooperation on trade diversification and resilient supply chains.
- If reforms fail, they may pursue alternative agreements among willing members.
