An Assessment of the Cooperation for EU-ASIA Relations and Economic Integration

Abstract

The relationship between the European Union (EU) and Asia has shown a remarkable increase during the last two to three decade. This is testament to the rising economic prowess of Asia, and the growing economic interdependence between the EU and Asia. While the mutual interests between the EU and Asia are primarily commercial in nature, the EU has in recent years sought to increase its presence in the Asia beyond mere economic ties. The simulation results show that the EU and Asia integration such as FTAs will lead to increases GDPs in the EU, China, Japan, and ASEAN member states. With development in the Common Foreign and Security Policy (CFSP) and Common Security and Defence Policy (CSDP), the EU increasingly sees itself as a comprehensive global actor. The EU’s search for a bigger role in Asia has to be seen in the context of its own development, but also as a response to the broader geopolitical and geoeconomic undercurrents impacting the western-centric global order. This paper captures the essence of EU-Asia engagement, and then analyses the emerging political and economic forces that could impact the future.