Trade and Investment Relations between Europe and Asia: Prospects for Bilateral FTA’s |

Trade and Investment Relations between Europe and Asia: Prospects for Bilateral FTA’s

Synopsis:

The last 10 years have witnessed spectacular growth in trade and investment flows between the EU and Asia. China has replaced the US as the EU’s largest trading partner. Exports from other major Asian partners to the EU have experienced double digit growth every year until 2007. At the same time, the EU has become the largest foreign direct investor in nearly all Asian countries. The current financial crisis, which began in the USA, has of course had a disastrous effect in recent months on trade and investment levels between the EU and Asia. The next few years will be very difficult for the world economy and a fundamental realignment of the major economies is not to be excluded. However, every crisis is also an opportunity and Europe and Asia should seek to strengthen their economic partnerships. The fundamentals of the EU economy and of major Asian economies show similar strengths (such as high savings rates and low public debts). For its part, the EU has been reviewing its trade policy in the light of the financial crisis in order to seek ways of promoting long term economic growth. Both the global economic downturn and the current impasse in the WTO Doha Development Agenda negotiations should make bilateral trade relations between Asian countries and the EU ever more important. The EU is presently negotiating bilateral Free Trade Agreements with ASEAN countries, with Korea and with India and prospects for these negotiations will be reviewed.

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Speaker(s):

Dorian Prince, EU Fellow, Lee Kuan Yew School of Public Policy

Date:
Tuesday, 06 October 2009
Time:
12.15 p.m. - 1.30 p.m.
Venue:

Seminar Room 3-5
Level 3, Manasseh Meyer
Lee Kuan Yew School of Public Policy
469C Bukit Timah Road
Singapore 259772

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