Asia continues to be the most dynamic region in the world. China, Japan, South Korea and India are among the EU’s ten biggest trading partners.
After the stalemate in the multilateral negotiations within the WTO, the EU needed to find alternative ways to guarantee better access to third countries’ markets. To this end, a new generation of comprehensive free trade agreements (FTAs), which go far beyond tariff cuts and trade in goods, were introduced. The EU-South Korea FTA entered into force in July 2011, as the first of the new generation of deals. It was launched in 2007 as part of the ‘Global Europe’ initiative, and it is the most comprehensive free trade agreement ever negotiated by the EU.
Japan is the EU’s second biggest trading partner in Asia after China and both sides are currently working to conclude negotiations by the end of this year. Labelled the ‘cars for cheese’ deal, EU’s biggest goal was slashing Japan’s tariffs on agricultural products, e.g. cheese, while Tokyo sought to end EU import duties on its car sector. Once concluded, this FTA will bring together economies accounting for 19 per cent of world GDP.
Philippe Duponteil, Head of Unit Far East at the Directorate General for Trade of the European Commission, will brief Asia House corporate members on the current status of the EU FTAs with Japan and will give a broader outline of EU FTAs with other East Asian countries.
He joined the European Commission in 1995. From 1998 to 2000, he acted as Second Secretary (Political) at the EU Delegation in Japan, from 2001 to 2003, he served as First Secretary (Trade), and he returned to the EU Delegation in Japan in 2004 as Minister-Counsellor, Head of the Trade and Economic Section. Since January 2016, Philippe has been Head of Unit, Asia Far East, and covers China, Japan, Korea, Hong Kong, Taiwan, Mongolia and Macao.
The briefing is part of series of events at Asia House which looks at the new global trade order. Our programme assembles decision-makers and influencers to brief corporate members on this new trade architecture as it takes shape.
This briefing is for corporate members only.
To register for this private briefing please contact Melanie Ullrich, Business & Policy Team at firstname.lastname@example.org or call 0207 307 5462.