Friedrich Merz, the Chancellor of Germany, at the beginning of his four-day business trip to Singapore, emphasized the importance of finding the position of European and Asian countries amid changes in the global order. Merz said: "We must safeguard our interests in an international environment influenced by the new competition of great powers."
Emphasis on Economic Stability
Merz, referring to the unpredictable tariffs of the United States under Donald Trump and China's trade restrictions, emphasized the stability that Germany and other European countries provide. He said: "This is a deliberate counterpoint to what we are currently witnessing. We want to do things differently and show that there is a better way." Merz also stressed the need to expand partnerships to enhance free trade with open competition, assurance, and a rules-based order.
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Call for International Investment
In a meeting with Singapore's Prime Minister, Lawrence Wong, Merz called for continuous improvement of investment opportunities and said: "In the federal government that I lead, investment opportunities will continuously improve." He added that there is a lot of trust in Germany and Europe as places for investment.
Prime Minister Wong also announced that investment in Germany and Europe will continue. He said: "Many of our investors, including sovereign wealth funds, have long been investing in Germany and will continue to do so because they believe that Germany and Europe have potential in the long term."
New Trade Agreements
Merz also called for the establishment of a new free trade agreement between the European Union and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which includes 12 countries across five continents, including Australia, Canada, Japan, Mexico, and the United Kingdom. The United States and China are not part of the CPTPP.
Merz and Wong agreed that their countries will cooperate to expand collaboration in the fields of security and defense, as well as trade, investment, sustainable energy, and artificial intelligence.
During this trip, decisions are expected regarding the continuation of a case against a suspect related to the Nord Stream sabotage and a report on Germany's ongoing search for a nuclear waste storage site. There is also news of a traffic accident last night near the city of Hanover that seriously injured several people, and the suspects are still at large.
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