EU trade caution catches Asians unaware<\/p>\n
BRUSSELS (Reuter): European officials say their Asian
\ncounterparts, having prepared table-thumping responses to
\nexpected criticism of their trade policy, may have been won over
\nby a softly-softly European Union approach.<\/p>\n
As they made their way home yesterday, after two days of talks
\nhere, senior Asian trade officials can be forgiven for being a
\nlittle confused.<\/p>\n
The Asia European Meeting (ASEM) -- which groups the 15-member
\nEU with the seven-nation ASEAN (Association of South east Asian
\nNations) plus Japan, China and South Korea -- met to plot a
\ncommon approach to the World Trade Organization summit in
\nSingapore later this year.<\/p>\n
It was the highest-level gathering since ASEM heads of state
\nmet in Bangkok earlier this year to launch a new Asia-Europe
\ncooperation strategy.<\/p>\n
\"There was no point in us delivering a sermon,\" said a senior
\nofficial of the Commission, the EU's executive. \"If we want
\nSingapore to be a success we have to work on agreements, not
\ndisagreements.\"<\/p>\n
The Commission deliberately avoided introducing issues likely
\nto prove controversial, such as labor standards, political rights
\nand the thorny question of trade with Burma.<\/p>\n
Instead, the meeting focused on so-called \"new issues\", as
\nwell as investment, competition and development.<\/p>\n
This was in sharp contrast to a meeting of ASEAN Foreign
\nMinisters in Jakarta earlier this week, where the EU was blasted
\nfor trying to impose Western standards on its trade partners.<\/p>\n
\"It was not a confrontational meeting,\" said Horst Krenzler,
\nhead of the Commission's trade department.<\/p>\n
\"They expected an argument, but I think our approach was a
\nmore subtle way of effecting our position,\" said an official.<\/p>\n
One Asian diplomat, however, said there was still a great deal
\nof work to be done.<\/p>\n
On WTO issues, the Asian participants indicated they would be
\nprepared to put greater effort into exploring ways by which trade
\nand investment in Asia could be made more accessible in exchange
\nfor an EU commitment to expanding the WTO.<\/p>\n
Both sides agreed on the importance of expanding the WTO but,
\nin a reference to China, an ASEM statement after the meeting said
\nnew members had to be judged on the basis of \"appropriate rights
\nand obligations\".<\/p>\n
Many Western governments fear the WTO's standing could be
\nundermined if China joins and then withdraws the first time it is
\ncriticized or loses a trade dispute.<\/p>\n
There was also concern expressed that a spate of regional
\ntrade agreements could undermine multilateral aims, and both
\nsides agreed to support the work of a special WTO committee
\nlooking into this.<\/p>\n
On bilateral relations, officials said the Asian participants
\nagreed to put more effort into studying ways of unifying
\nfinancial regulations.<\/p>\n
In return, the Commission is to examine ways of promoting
\nEuropean investment in ASEAN.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/eu-trade-caution-catches-asians-unaware-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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