ASIA-EUROPE MEETING (ASEM): fostering a multipolar world order through inter-regional cooperation

Abstract

Since its inception in 1996 ASEM has provided an opportunity for focussing relations between the EU and East Asia as a forum for informal multilayered dialogue and building a framework for enhanced cooperation in the political, economic and social/cultural fields. Inter-regionalism, of which ASEM is the incarnation in the EU-Asia relationship, developed into an important policy tool of the EU in an effort to maintain a multipolar setting. Regional identities in Asia are at a different level when comparing South East Asia, North East Asia, East Asia and South and Central Asia. ASEM contributed to a certain extent to the region building in East Asia. Although the economic pillar of ASEM turned out to be the more important one when compared to the political and the people-to-people pillars, it will not become the basis for a (deep) inter-regional free trade agreement because of the diversity of the Asian members, reinforced by the last ASEM enlargement. However, turning weakness into strength, ASEM could become the EU’s vehicle for a more holistic approach to Asia thereby fostering a more economic and political multipolar world order. The financial melt down of the international financial order lead to the rediscovery of the need for international cooperation not only on the level of business but also among states. Making use of ASEM, developed over the last 12 years, could provide the much needed platform in the EU-Asia relationship.