Tuesday, 02 January 2024 12:17 GMT

The EU In The Indo-Pacific: Challenges And Opportunities


(MENAFN- Asia Times) “I look forward to deepening our partnership-from security and defense to innovation,” EU chief Ursula von der Leyen posted on X following her phone conversation with Singapore's PM Lawrence Wong in mid-April. Additionally, the European Commission President indicated interest in“exploring closer trade cooperation with the wider region,” adding the hashtag #CPTPP.

The Indo-Pacific free trade agreement, or CPTPP, covers a variety of sectors and unites twelve countries, including Japan, Malaysia, Singapore and Australia. While the UK has recently joined the trade club, the EU's membership in the CPTPP seems to be facing challenges so far.

Meanwhile, the EU has immense interest in the Indo-Pacific, which, with its fast-growing economies and strategic waterways, is vital for international commerce. Not to mention the fact that Japan, China, South Korea, and India are among the EU's top ten export and import partners.

On the flip side, the Indo-Pacific is struggling with security challenges, including the threat emanating from North Korea and tensions in the South China Sea. Add to this the boundary disputes between India and Pakistan fueled by the recent deadly terror attack in Kashmir, and it is even easier to imagine the scope of potential conflicts.

All this together makes it vital for the EU to develop a coordinated strategy for the Indo-Pacific.

A significant step was made in 2021 with the EU embracing a strategy for cooperation in the Indo-Pacific. The document promotes a rules-based security architecture in the region and suggests the EU's efforts to strengthen its footprint there. However, member states still play a major role in how the strategy is implemented.

A bilateral approach still prevails

For now, the EU has a number of bilateral agreements with the key Indo-Pacific countries. In 2019, the European Union and Japan agreed on partnership in such areas as machinery and agri-food, something that emerged as the EU's largest bilateral agreement. One year later, Brussels concluded with Vietnam its first comprehensive agreement with a developing ASEAN state.

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