German Chancellor Angela Merkel criticized the intention of the future US President Donald Trump of his country's exit from the Trans-Pacific Partnership (TPP). She stated this during the general debate on budget in Bundestag, DW reports.
"I am not happy that the Trans-Pacific agreement is now unlikely to become a reality,” she said.
At the same time, she expressed doubt that someone benefits from such a move. "I know only one thing: there will be other trade agreements and they will not have such standards, as this agreement and the planned TTIP (Transatlantic Trade and Investment Partnership, - Ed.) deal had,” the German Chancellor said.
According to her, it was about jobs, fair competition and a "human face" of globalization in those agreements. Referring to the isolationist tendencies in many countries, Merkel also called for the protection of common values throughout the world.
Five years were spent for the preparation to the agreement, which would cover 40% of the world economy and create the largest free trade zone.
Speaking about the situation in eastern Ukraine, Merkel noted that negotiations for the implementation of the Minsk agreements “did not progress as far as we would like”.