On October 6, 2010, the EU and South Korea formally signed a free trade agreement. Although the signing ceremony of the day was only symbolic, this move reflected the latest trend of EU's foreign trade policy.
Multilateral and bilateral cooperation The European Commission has commented that the European Union and South Korea have reached a final agreement after three years of negotiations. The European Commission has evaluated it as the “most ambitious†trade agreement signed by the EU so far and the first free trade agreement reached with Asian countries. The agreement, but by no means the last one.
In view of the long delay in the Doha Round negotiations of the World Trade Organization, the European Union, which has always advocated a multilateral free trade system, is looking increasingly at the bilateral level and seeking to conclude a bilateral free trade agreement to open up a broader market.
The EU-Korea Free Trade Agreement was signed on the same day at the EU-Korea summit held in Brussels. Just two days ago, the 8th ASEM Summit was just held in Brussels. This is closely related to the Asian and European countries attending the meeting. Economic and trade ties provide a platform for bilateral free trade agreements to become a hot topic.
Following South Korea, India is expected to complete the FTA negotiations with the European Union by the end of 2010. Taking advantage of the opportunity of the Asia-Europe Summit, the European Union and Malaysia also officially launched negotiations on bilateral free trade agreements on October 5. Malaysia is the second ASEAN member country after Singapore to start negotiations with the EU to launch a free trade agreement. In the first half of 2010, the EU has already begun negotiations with Singapore.
In addition, during this Asia-Europe summit, Vietnam, Thailand, and Japan also jointly expressed with the European Union their willingness to conclude bilateral free trade agreements. The EU’s efforts to focus on bilateral trade negotiations have become more apparent.
Aiming at the Asian market From the latest series of bilateral trade offensive launched by the European Union, Asian countries are becoming their key targets. At the Asia-Europe Summit that began on October 4th, Fan Longpei, the permanent chairman of the European Council who presided over the meeting, clearly put forward the slogan that the EU should “look eastwardâ€.
Asian countries have a large population. They have achieved remarkable economic performance in recent years, and their demand is strong. The market has great potential. Compared with the European Union’s traditional trading partners such as the United States, Asia is becoming a more important driving force for boosting the EU’s export growth. European Commission ** Barroso said at the Asia-Europe Summit that in terms of economy, Asia is likely to be the most dynamic region in the world.
Frederick Eriksson, director of the European Centre for International Political Economy Research, headquartered in Brussels, said that for European multinationals, the Asian market is the key to future sales growth, although other markets remain important, but the next 10 years The expansion of the market will mainly occur in Asia because both the European Union and the United States will have weak recovery.
According to data from Eurostat, during the eight years from 2000 to 2008, the total value of trade in goods between the EU and the 18 Asia-Pacific countries attending the Asia-Europe Summit and Russia has almost doubled. As of the first half of 2010, the EU’s exports to these 19 countries accounted for 29% of its total exports, and imports from these countries accounted for 45%. At present, Asian and European countries attending the Asia-Europe Summit represent half of the global economic aggregate and 60% of global trade.
At present, the European Union’s economy has been hit by the sovereign debt crisis, and the pace of recovery has obviously lagged behind other economies and is full of uncertainty. In contrast, developing countries in Asia have enjoyed good growth. This has given rise to the hope that the EU economy will emerge from its predicament.
The data shows that although the international financial crisis that broke out in the second half of 2008 caused a serious impact on the trade between Europe and Asia, resulting in a 20% drop in total import and export volume in 2009, the first half of 2010 showed a significant rebound, which was a year-on-year increase. 25%.
Seeking to break through one by one From a tactical point of view, the EU’s choice to enter into a bilateral free trade agreement with Asian countries is beneficial to the EU because the EU as a whole clearly enjoys advantages when negotiating with a single Asian country.
Ericson said that the EU’s strategy in Asia is mainly bilateral, and it will still be the case, because there are practical reasons for this, that is, Asia does not have a peer-to-peer alliance, and the differences between Asian countries are too great. He said that the EU had tried to conclude a free trade agreement with ASEAN, but due to differences between ASEAN member states, such efforts eventually ended in failure.
The EU and ASEAN began negotiations on the free trade agreement in 2007, but negotiations progressed slowly. Both sides agreed to suspend negotiations in February 2009. The EU turned to seek negotiations with ASEAN member states for free trade agreements, and took the lead with ASEAN. Big trading partner Singapore launched negotiations.
This one-by-one strategy has increased the bargaining bargaining power of the EU and also helped the EU to win the most important interests from different countries. For example, in negotiations with Singapore, the EU clearly wants to further open Singapore's financial market and make a difference in this Southeast Asian financial center. Judging from the difficult negotiation process between the EU and South Korea, the EU’s position has become more and more tough.
At the informal EU summit held last month, leaders of EU member states specifically discussed the adjustment of relations with strategic partners. Asian countries such as China, India and South Korea are among the strategic partners of the EU. In handling relations with these strategic partners, the European Union has listed economic and trade matters such as the promotion of bilateral trade and market liberalization as the "strategic interests" that the EU will vigorously defend. The signing of bilateral free trade agreements will be a way for the EU to realize these strategic interests. .
Multilateral and bilateral cooperation The European Commission has commented that the European Union and South Korea have reached a final agreement after three years of negotiations. The European Commission has evaluated it as the “most ambitious†trade agreement signed by the EU so far and the first free trade agreement reached with Asian countries. The agreement, but by no means the last one.
In view of the long delay in the Doha Round negotiations of the World Trade Organization, the European Union, which has always advocated a multilateral free trade system, is looking increasingly at the bilateral level and seeking to conclude a bilateral free trade agreement to open up a broader market.
The EU-Korea Free Trade Agreement was signed on the same day at the EU-Korea summit held in Brussels. Just two days ago, the 8th ASEM Summit was just held in Brussels. This is closely related to the Asian and European countries attending the meeting. Economic and trade ties provide a platform for bilateral free trade agreements to become a hot topic.
Following South Korea, India is expected to complete the FTA negotiations with the European Union by the end of 2010. Taking advantage of the opportunity of the Asia-Europe Summit, the European Union and Malaysia also officially launched negotiations on bilateral free trade agreements on October 5. Malaysia is the second ASEAN member country after Singapore to start negotiations with the EU to launch a free trade agreement. In the first half of 2010, the EU has already begun negotiations with Singapore.
In addition, during this Asia-Europe summit, Vietnam, Thailand, and Japan also jointly expressed with the European Union their willingness to conclude bilateral free trade agreements. The EU’s efforts to focus on bilateral trade negotiations have become more apparent.
Aiming at the Asian market From the latest series of bilateral trade offensive launched by the European Union, Asian countries are becoming their key targets. At the Asia-Europe Summit that began on October 4th, Fan Longpei, the permanent chairman of the European Council who presided over the meeting, clearly put forward the slogan that the EU should “look eastwardâ€.
Asian countries have a large population. They have achieved remarkable economic performance in recent years, and their demand is strong. The market has great potential. Compared with the European Union’s traditional trading partners such as the United States, Asia is becoming a more important driving force for boosting the EU’s export growth. European Commission ** Barroso said at the Asia-Europe Summit that in terms of economy, Asia is likely to be the most dynamic region in the world.
Frederick Eriksson, director of the European Centre for International Political Economy Research, headquartered in Brussels, said that for European multinationals, the Asian market is the key to future sales growth, although other markets remain important, but the next 10 years The expansion of the market will mainly occur in Asia because both the European Union and the United States will have weak recovery.
According to data from Eurostat, during the eight years from 2000 to 2008, the total value of trade in goods between the EU and the 18 Asia-Pacific countries attending the Asia-Europe Summit and Russia has almost doubled. As of the first half of 2010, the EU’s exports to these 19 countries accounted for 29% of its total exports, and imports from these countries accounted for 45%. At present, Asian and European countries attending the Asia-Europe Summit represent half of the global economic aggregate and 60% of global trade.
At present, the European Union’s economy has been hit by the sovereign debt crisis, and the pace of recovery has obviously lagged behind other economies and is full of uncertainty. In contrast, developing countries in Asia have enjoyed good growth. This has given rise to the hope that the EU economy will emerge from its predicament.
The data shows that although the international financial crisis that broke out in the second half of 2008 caused a serious impact on the trade between Europe and Asia, resulting in a 20% drop in total import and export volume in 2009, the first half of 2010 showed a significant rebound, which was a year-on-year increase. 25%.
Seeking to break through one by one From a tactical point of view, the EU’s choice to enter into a bilateral free trade agreement with Asian countries is beneficial to the EU because the EU as a whole clearly enjoys advantages when negotiating with a single Asian country.
Ericson said that the EU’s strategy in Asia is mainly bilateral, and it will still be the case, because there are practical reasons for this, that is, Asia does not have a peer-to-peer alliance, and the differences between Asian countries are too great. He said that the EU had tried to conclude a free trade agreement with ASEAN, but due to differences between ASEAN member states, such efforts eventually ended in failure.
The EU and ASEAN began negotiations on the free trade agreement in 2007, but negotiations progressed slowly. Both sides agreed to suspend negotiations in February 2009. The EU turned to seek negotiations with ASEAN member states for free trade agreements, and took the lead with ASEAN. Big trading partner Singapore launched negotiations.
This one-by-one strategy has increased the bargaining bargaining power of the EU and also helped the EU to win the most important interests from different countries. For example, in negotiations with Singapore, the EU clearly wants to further open Singapore's financial market and make a difference in this Southeast Asian financial center. Judging from the difficult negotiation process between the EU and South Korea, the EU’s position has become more and more tough.
At the informal EU summit held last month, leaders of EU member states specifically discussed the adjustment of relations with strategic partners. Asian countries such as China, India and South Korea are among the strategic partners of the EU. In handling relations with these strategic partners, the European Union has listed economic and trade matters such as the promotion of bilateral trade and market liberalization as the "strategic interests" that the EU will vigorously defend. The signing of bilateral free trade agreements will be a way for the EU to realize these strategic interests. .