EU set to change Southeast Asian trade policy: report

Published: 22/03/2009 05:00

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The European Union (EU) is poised to alter its Southeast Asia trade policy to deal with individual members of the ASEAN trade alliance rather than with the bloc as a whole, a senior official said Friday.

The German daily Handelsblatt quoted EU Trade Commissioner Catherine Ashton as saying: “The process with ASEAN up to now has been very slow. We must now check how we can move forward quicker with individual countries that are prepared to do so.”

The 10-member Association of Southeast Asian Nations, or ASEAN, agreed with the EU to launch talks on a regionwide free-trade accord in May 2007. But progress toward clinching a deal has since moved at a glacial pace.

Earlier this month, Indonesia’s trade minister Mari Pangetu said ASEAN countries wanted a bloc-to-bloc free-trade pact but that nations were free to negotiate separate deals with the EU.

“If some countries are going to be approached for bilaterals, that’s another issue… that is their right to do it,” she told AFP in an interview.

ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

An ASEAN-EU free-trade agreement would cover nearly one billion people, making it one of the world’s largest.

Source: AFP

Provide by Vietnam Travel

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