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Sea change in EU trade policy: opportunities for diversification in the Indo-Pacific
Zeitenwende in der EU-Handelspolitik: Chancen der Diversifizierung im Indo-Pazifik
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Stiftung Wissenschaft und Politik -SWP- Deutsches Institut für Internationale Politik und Sicherheit
Abstract
Europe's trade policy is heading for a sea change. But it is not Putin's war of aggression against Ukraine that is the main reason for this development. Rather, there are long-term influencing factors at work here: the WTO-centred multilateral trade order is visibly eroding. Protectionism is on the ... view more
Europe's trade policy is heading for a sea change. But it is not Putin's war of aggression against Ukraine that is the main reason for this development. Rather, there are long-term influencing factors at work here: the WTO-centred multilateral trade order is visibly eroding. Protectionism is on the rise around the globe. World trade is growing only marginally or is even stagnating. Globalization is undergoing a transformation whose outcome is uncertain. And international trade is increasingly being instrumentalized for political purposes. In February 2021, the European Commission responded to these structural upheavals by announcing an "open, sustainable and assertive trade policy". However, there has so far been uneven progress towards implementing the objectives included in the new trade policy strategy. While the EU's intention to strengthen both Europe's assertiveness and the sustainability of trade is being realized through numerous new instruments and measures, its promise of openness and liberalization remains unfulfilled for the time being. In particular, the Indo-Pacific region beyond China would offer the German and European economies significant opportunities to tap new sources of raw materials and access reliable supplier networks and growing sales markets. (author's abstract)... view less
Keywords
EU; export policy; diversification; world trade; political strategy; economic agreement; international agreement; globalization; liberalization; economic relations; Indian Ocean; Pacific Rim; China; Australia; New Zealand; Indonesia; India; ASEAN
Classification
International Relations, International Politics, Foreign Affairs, Development Policy
Free Keywords
Internationaler Handel; Internationale Partnerschaft; Internationale Verhandlungen; Wertesystem
Document language
English
Publication Year
2022
City
Berlin
Page/Pages
8 p.
Series
SWP Comment, 59/2022
DOI
https://doi.org/10.18449/2022C59
ISSN
2747-5107
Status
Published Version; reviewed
Licence
Deposit Licence - No Redistribution, No Modifications