A rival to BRICS: The European Commission proposes the creation of a Eurasian trade bloc.
A rival to BRICS: The European Commission proposes the creation of a Eurasian trade bloc.
6-27-2025
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The European Commission has proposed the creation of a Eurasian trading bloc based on free trade principles and revised World Trade Organization (WTO) standards, as a Western competitor to BRICS.
This came in a statement by European Commission President Ursula von der Leyen during a press conference following the EU summit.
“I presented an attractive and interesting idea at the summit, which is that the CPTPP countries, that is, the Asian countries, want structured cooperation with the EU, and the EU wants structured cooperation with them,” von der Leyen said. “We can think about starting the process of restructuring the WTO, with a clear understanding of what needs to be revised, and without repeating the mistakes of the past, in order to show that free trade between a large number of countries is possible on the basis of rules, because the EU and the CPTPP together are a real force.”
The CPTPP was originally a British project and now includes 12 countries: the United Kingdom, Australia, Canada, New Zealand, Japan, Chile, Malaysia, Mexico, Peru, Singapore, Vietnam, and Brunei. The United States participated in drafting the agreement but later withdrew.
This bloc was initially created as a counterbalance to China, and within a broader framework to BRICS, but it has not yet achieved the same dynamism as BRICS. It is noteworthy that this project was discussed at a summit where European Union leaders also discussed the possibility of a trade war with the United States and the imposition of new sanctions on Russia.
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