you're reading...
International Relations, PUBLICATIONS

Improving EU-Asia trade relations

Globes

Copyright Lightspring. Used under licence
from Shutterstock.com.

In 2006, the European Commission approved the Global Europe Communication, first step in a new trade policy envisaging ambitious and far-reaching bilateral free trade agreements (FTAs) with priority partners having significant market potential.

Asia is an emerging market that will soon become the largest economic region in the world. Its bilateral trade with the European Union is now larger than its trade with the US, and it continues to grow.

A “new generation” free trade agreement has already been concluded with South Korea, and provisionally entered into force in July 2011.

Agreements with India, Singapore and Malaysia could be signed before the end of 2012, while negotiations and talks with several other Asian states continue.

The goal of strengthening cooperation and increasing trade with these strategic partners will be achieved despite some disagreement on sensitive issues (such as automotive and textile sectors) and opposition from civil society and specific sectors.

However, the European Union is not the only international actor looking to expand its trade relationship with Asia.

Click here to read the complete briefing

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download the EPRS App

EPRS App on Google Play
EPRS App on App Store
What Europe Does For You
EU Legislation in Progress
Topical Digests
EPRS Podcasts

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 3,266 other followers

Disclaimer and Copyright statement

The content of all documents (and articles) contained in this blog is the sole responsibility of the author and any opinions expressed therein do not necessarily represent the official position of the European Parliament. It is addressed to the Members and staff of the EP for their parliamentary work. Reproduction and translation for non-commercial purposes are authorised, provided the source is acknowledged and the European Parliament is given prior notice and sent a copy.

For a comprehensive description of our cookie and data protection policies, please visit Terms and Conditions page.

Copyright © European Union, 2014-2019. All rights reserved.

%d bloggers like this: