The door to the East: Should the EU negotiate on its own?

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Rating: 4.5/5 with 2 votes

Published Thursday, October 25, 2007 at 11:34
by Editor in EU in the world (770 views and 1 comments)

South Korea and the European Union have recently launched their third round of negotiations on a free trade agreement in Brussels and the next round of talks will take place in mid-October in Seoul. Trade Commissioner Peter Mandelson stated talks represent a turning towards a stronger focus on Asia and according to South Korea’s trade negotiator Kim Hyun-Chong the agreement represents a chance to become East Asia's free trade hub linking Europe, Asia and the US. But what is at stake exactly?

On the big picture first, the EU is planning free trade deals with other countries in Asia and beyond, arguing that its growing bilateral strategies do not undermine its commitment to global trade negotiations at the World Trade Organization. However, with WTO talks risking delay or failure, it seems that current agreements reflect more the interests of European businesses; they gain a better chance for swift new market openings. Should the EU negotiate directly with South Korea and pursue its own interests? Or should it rather stay with the WTO and and extend the benefits of trading to other developing countries?

Tags: globalization, trade

Comments

1. South Korea by nanne in berlin on Saturday, October 27, 2007 at 16:53

Is not a 'developing country'. Ideally, we should move through the WTO but as that route seems to be blocked, we may have to conclude agreements in another way. I see no problem in agreements with rich, developed countries like South Korea. However, the Economic Partnership Agreements currently being negotiated with developing countries do seem to be harmful.

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