Obama, Merkel see 'no return' to pre-globalised world

2016-11-16 22:04
US President Barack Obama and German Chancellor Angela Merkel arrive for a press conference after their bilateral talks at the Herrenhausen Palace in Hanover. (Tobias Schwarz, AFP)

US President Barack Obama and German Chancellor Angela Merkel arrive for a press conference after their bilateral talks at the Herrenhausen Palace in Hanover. (Tobias Schwarz, AFP)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Berlin - US President Barack Obama and German Chancellor Angela Merkel argued on Wednesday for a transatlantic trade deal and stressed that there will be "no return to a world before globalisation".

Their joint article comes as Obama's successor Donald Trump has pledged to rip up existing trade deals and assume a more protectionist course for the world's top economy.

Obama, on his European farewell tour, was visiting Merkel from late on Wednesday to Friday, when they will also meet the leaders of Britain, France, Italy and Spain in Berlin.

In business magazine Wirtschaftswoche, Obama and Merkel stated their case for a socially responsible market economy, worldwide free trade and ever closer ties between the United States and Europe's top economy.

"There will be no return to a world before globalisation," they wrote in the German-language article to be printed in full in Friday's edition of the weekly.

Germans and Americans should grasp the opportunity "to shape globalisation according to our values and ideas," they wrote.

"We owe it to our companies and our citizens, indeed to the entire world community, to broaden and deepen our co-operation."

Must sign the controversial trade deal

Both leaders argued that the EU and US must sign the controversial trade deal called the Transatlantic Trade and Investment Partnership, which has been the target of protests especially in Europe.

They argued that "trade and investment raise living standards" and that "both German and American employers and employees, consumers and farmers would benefit from TTIP".

"We are stronger when we work together," they wrote. "Now that the global economy is developing faster than ever and global challenges are greater than ever, this co-operation is more important than ever before."

Obama, speaking in Greece earlier Wednesday, argued that globalisation needs a "course correction" to address growing inequality which "feeds a profound sense of injustice".

But the outgoing president added that "I firmly believe that the best hope for human progress remains open markets, combined with democracy and human rights".

Read more on:    angela merkel  |  barack obama  |  germany  |  us

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.