EU’s FTA roadmap in south east asia
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The document discusses the EU's trade strategy towards Asia, including establishing an EU-ASEAN free trade agreement (FTA). The EU aims to improve market access for European companies and ensure they are not disadvantaged relative to US and Japanese firms. It pursues this through country strategy papers, ASEM cooperation, and an FTA with ASEAN. The FTA would deepen economic integration and liberalization between the regions, requiring ASEAN countries to make significant changes to align with European standards and give European companies access to their markets. Critics argue this ignores existing asymmetries between the EU and ASEAN members.
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EU’s FTA roadmap in south east asia
- 1. EU-ASEAN FTA ROADMAP BY Charles Santiago Monitoring Sustainability of Globalisation (MSN)
- 3. Philippines Indonesia Brunei Myanmar Malaysia Thailand Vietnam Laos Cambodia Singapore FTA concluded AFTA Japan FTA under negotiation US Taiwan FTA concluded AFTA Japan FTA under negotiation TIFA with the US FTA concluded AFTA FTA concluded AFTA Australia Bahrain China New Zealand Japan FTA under negotiation US Chile Peru FTA concluded AFTA Japan FTA under negotiation US Australia New Zealand Pakistan Korea India FTA concluded AFTA Australia Japan New Zealand US India Jordan Chile South Korea Panama Transpacific SEP (RTA including Brunei, Chile, New Zealand Singapore) European Free Trade Association (EFTA) FTA under negotiation Canada Sri Lanka Peru Iran Egypt Pakistan Ukraine Mexico China Golf Cooperation Council GCC (RTA including Bahrain, Kuwait, Qatar, United Arab Emirates, Oman and Saudi Arabia) FTA concluded AFTA FTA under negotiation TIFA with the US Japan
- 4. ASEAN FTA ALREADY CONCLUDED South Korea (2006) AFTA
- 5. To be implemented by 2015 To be concluded by 2010 To be concluded by 2015 To be concluded by the end 2007 To be concluded by 2009 FTA UNDER NEGOTIATION WITH ASEAN
- 6. EU MERCOSUR (Argentina, Brazil, Paraguay, Uruguay) Korea India Golf Cooperation Council (Bahrain, Kuwait, Qatar, United Arab Emirates, Oman and Saudi Arabia) CAN (Andean Community) Bolivia, Colombia, Ecuador, Peru Central America (Guatemala, Salvador, Honduras, Nicaragua, Costa Rica, Panama) African, Caribbean and Pacific (ACP) (78 countries) ASEAN
Editor's Notes
- Improving Market Access entails a) trade, services, investment liberalisation; b) removal of technical barriers to trade; c) removal of non-trade barriers (local legislations); The EU is playing catch-up to the US and Japan in Asia. The EU states that European dominance in Asia is central to positioning itself in a leading role in the world economy.
- MRA involves agreements on Standards, testing and certification, in order to allow convergence between EU & Asian economies. The EU will establish European Business Councils and European Business Information Centers will be established in Asia.
- EU core objectives are trade and investment. It involves market access, eliminating trade barriers, promoting investments and EU MNCs and economic relationships. Clearly,
- a) ASEM was launched in 1996 with 3 major focus: political, economic and socio-cultural pillars. B) TFAP - trade facilitation action plan and IPAP Investment Promotion Action Plan; the Asia-Europe Business Forum is allowed closer relationship with the ASEM Economic Ministers and recently the SOMTI indicated that AEPF should be given a greater role in influencing ASEM business strategies. Working groups: a) IPR, Customs Procedure and Confromity Assesment (SCA), Sanitary and Phytosanitary Measures, Electric Commerce.
- a) Acknowledges that ASEAN’s growth and expansion is an attraction for the EU; has to compete with the US and others for the expansion that is happening.
- Non tariff barriers include trade facilitation, technical barriers to trade, and sanitary & phytosanitary (SPS), industrial products standards. It also includes competition & investment policy. These issues are considered to be impediments to trade. Thus the purpose of the TEATI is to address contentious regulatory barriers before FTA discussions begin.
- Asean Business Council and ASEAN Chamber of Commerce and Industry.