EU, U.S. to strive for reforming WTO

ASTANA. KAZINFORM - The European Union and the United States will work closely to reform the World Trade Organization, Kazinform cites the Joint U.S.-EU Statement following President Juncker's visit to the White House.

"We agreed today to join forces to protect American and European companies better from unfair global trade practices," reads the statement published Wednesday evening by the European Commission.

"We will therefore work closely together with like-minded partners to reform the WTO and to address unfair trading practices, including intellectual property theft, forced technology transfer, industrial subsidies, distortions created by state owned enterprises, and overcapacity," outlined in the document.

The European Union and the United States also intend to work for the facilitation and expansion of trade.

"This is why we agreed today, first of all, to work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods. We will also work to reduce barriers and increase trade in services, chemicals, pharmaceuticals, medical products, as well as soybeans," the statement reads.

Besides, the sides agreed "launch a close dialogue on standards in order to ease trade, reduce bureaucratic obstacles, and slash costs," and expressed readiness to "resolve the steel and aluminum tariff issues and retaliatory tariffs.".