EU looks towards its relations with the Indo-Pacific region

The European Union (EU) yesterday (19 April) approved its new strategy for co-operation in the Indo-Pacific region – a region stretching from the east coast of Africa to the Pacific Island States – in which it must "strengthen its presence and actions" in order to "contribute to regional stability, security, prosperity and sustainable development", according to the statement. Part of the strategy involves "making further progress" towards the EU–China Comprehensive Agreement on Investment (CAI), which is still awaiting ratification after the two blocs signed it in December.

The EU is also looking to create an open and fair environment for new Free Trade Agreements with Australia, Indonesia, and New Zealand and those that have already entered into force with Japan, the Republic of Korea, Singapore, and Vietnam. 

Furthermore, the strategy will "continue to explore ways to deepen economic relations with India", according to the 10-page strategy approved by the EU's Foreign Ministers, two weeks before the EU holds a summit with India on 8 May 2021.

The EU believes in the "importance of a meaningful European naval presence in the Indo-Pacific", and plans to organise more joint exercises with its partners in the region.

The EU countries also want to work together with the countries in the region in the field of health, "a crucial new area" where "the coronavirus pandemic has demonstrated the importance of multilateral cooperation". They also want to co-operate in the fight against climate change within the framework of the Paris Agreement and in the field of digital innovation. 

The Indo-Pacific region represents the world’s economic and strategic centre of gravity. It is home to 60% of the world’s population, producing 60% of global GDP, contributing two-thirds of current global growth. By 2030, the overwhelming majority (90%) of the 2.4 billion new middle-class members entering the global economy will live in the Indo-Pacific.

 
Source: commonspace.eu with the European Union

Related articles

Editor's choice
News
Borrell tells the European Parliament that the situation in Afghanistan was critical, but the EU will remain engaged

Borrell tells the European Parliament that the situation in Afghanistan was critical, but the EU will remain engaged

Borrell underlined that the European Union will make every effort to support the peace process and to remain a committed partner to the Afghan people. "Of course, we will have to take into account the evolving situation, but disengagement is not an option.  We are clear on that: there is no alternative to a negotiated political settlement, through inclusive peace talks.
First Astana International Forum taking place in Kazakhstan on 8-9 June
The first Astana International Forum (AIF) is taking place in Kazakhstan on Thursday and Friday (8-9 June). An initiative of the Kazakh President Kassym-Jomart Tokayev, the Astana International Forum writes that it will "serve as a platform for high-level delegates from foreign governments, international organizations, businesses and academic circles to engage in dialogue and seek solutions to problems such as climate change, food shortages and energy security". Over 1,000 people will participate in the conference, which is running under the theme "Tackling Challenges Through Dialogue: Towards Cooperation, Development & Progress". There will be several keynote speeches and over 40 panel sessions, discussions, and side events. The decline of Russia in Central Asia as a result of its ongoing full-scale invasion of Ukraine has propelled the region into a new geopolitical reality. Especially on trade, difficulties trading via Russia as a result of sanctions have given Central Asia a renewed, critical position in facilitating east-west trade. To that end, Central Asian connectivity is also high on the agenda at the AIF.
patrickn97 Thu, 06/08/2023 - 11:37

Popular

First Astana International Forum taking place in Kazakhstan on 8-9 June
The first Astana International Forum (AIF) is taking place in Kazakhstan on Thursday and Friday (8-9 June). An initiative of the Kazakh President Kassym-Jomart Tokayev, the Astana International Forum writes that it will "serve as a platform for high-level delegates from foreign governments, international organizations, businesses and academic circles to engage in dialogue and seek solutions to problems such as climate change, food shortages and energy security". Over 1,000 people will participate in the conference, which is running under the theme "Tackling Challenges Through Dialogue: Towards Cooperation, Development & Progress". There will be several keynote speeches and over 40 panel sessions, discussions, and side events. The decline of Russia in Central Asia as a result of its ongoing full-scale invasion of Ukraine has propelled the region into a new geopolitical reality. Especially on trade, difficulties trading via Russia as a result of sanctions have given Central Asia a renewed, critical position in facilitating east-west trade. To that end, Central Asian connectivity is also high on the agenda at the AIF.
patrickn97 Thu, 06/08/2023 - 11:37