Trading Freely with East Asia: Challenges and Opportunities for EU FTAs in the Region
As the fastest growing region in the world, East Asia is an important partner for the European Union, particularly at a time of economic difficulty. Asian countries have weathered the recent financial and economic crisis much better than Europe and much better than initially anticipated, with China and several members of the Association of Southeast Asian Nations (ASEAN) recording relatively impressive growth rates. As a result, self-confidence has been growing in Asia while European economies feel increasingly challenged.
At the same time East Asia is now also seen as an important potential contributor to Europe's growth. But East Asian economies will not be in a position to maintain their impressive growth rates in the absence of economic recovery in Europe. As a result, there is a growing awareness of the two regions' interdependence, and in particular a deepening understanding in Europe of the importance of the Europe-Asia partnership, with preferential trading agreements (PTAs1) as major means of enhancing the bilateral relationship.
The objective of this one-day conference entitled “Trading freely with East Asia” was to take stock of the implementation of the Commission's PTA strategy as defined in the “Global Europe” vision put forward in 2006 and to examine the challenges associated with ongoing and future PTA negotiations between the EU and a sampling of East Asian partners. To this end, the conference brought together European and Asian representatives from government and business, as well as a number of independent observers.
The meetings began with a general discussion on the EU's Free Trade Strategy, before zeroing in on bilateral EU-East Asia relations, examining in turn existing agreements, ongoing negotiations and the opportunities and challenges associated with potential future agreements. The following is a set of general observations gleaned from these discussions.
Available in:
Share
Download the full analysis
This page contains only a summary of our work. If you would like to have access to all the information from our research on the subject, you can download the full version in PDF format.
Trading Freely with East Asia: Challenges and Opportunities for EU FTAs in the Region
Related centers and programs
Discover our other research centers and programs
Center for Asian Studies
Asia is a nerve center for multiple global economic, political and security challenges. The Center for Asian Studies provides documented expertise and a platform for discussion on Asian issues to accompany decision makers and explain and contextualize developments in the region for the sake of a larger public dialogue.
The Center's research is organized along two major axes: relations between Asia's major powers and the rest of the world; and internal economic and social dynamics of Asian countries. The Center's research focuses primarily on China, Japan, India, Taiwan and the Indo-Pacific, but also covers Southeast Asia, the Korean peninsula and the Pacific Islands.
The Centre for Asian Studies maintains close institutional links with counterpart research institutes in Europe and Asia, and its researchers regularly carry out fieldwork in the region.
The Center organizes closed-door roundtables, expert-level seminars and a number of public events, including an Annual Conference, that welcome experts from Asia, Europe and the United States. The work of Center’s researchers, as well as that of their partners, is regularly published in the Center’s electronic journal Asie.Visions.
Find out more
Discover all our analyses
RAMSES 2024. A World to Be Remade
For its 42nd edition, RAMSES 2024 identifies three major challenges for 2024.
France and the Philippines should anchor their maritime partnership
With shared interests in promoting international law and sustainable development, France and the Philippines should strengthen their maritime cooperation in the Indo-Pacific. Through bilateral agreements, expanded joint exercises and the exchange of best practices, both nations can enhance maritime domain awareness, counter security threats and develop blue economy initiatives. This deeper collaboration would reinforce stability and environmental stewardship across the region.
The China-led AIIB, a geopolitical tool?
The establishment of the Asian Infrastructure Investment Bank (AIIB) in 2016, on a Chinese initiative, constituted an attempt to bridge the gap in infrastructure financing in Asia. However, it was also perceived in the West as a potential vehicle for China’s geostrategic agendas, fueling the suspicion that the institution might compete rather than align with existing multilateral development banks (MDBs) and impose its own standards.
Jammu and Kashmir in the Aftermath of August 2019
The abrogation of Article 370, which granted special status to the state of Jammu and Kashmir (J&K), has been on the agenda of the Bharatiya Janata Party (BJP) for many decades.