China, Japan and Korea agree to start FTA talks
At their fifth trilateral summit in Beijing on 13 May the leaders of China, Japan and Korea agreed to start preliminary negotiations on a free trade agreement. The leaders also signed a ‘milestone’ trilateral investment agreement and agreed to step up cooperation on regional security issues.
Trade between the three East Asian giants has been booming - up from $130bn in 1999 to $690 bn in 2011. China is now the biggest trading partner of both Japan and Korea.
China’s prime minister Wen Jiabao said that the investment agreement was the first legal document on trilateral cooperation in the economic field. He also said ‘the global economy is recovering slowly while the European debt crisis is not over. The establishment of a free-trade pact will unleash the economic vitality of the region and give a massive boost to economic integration in East Asia. Japanese Prime Minister Yoshihiko Noda said economic co-operation was essential to maintaining the Asia-Pacific region as the growth centre of the world economy.
Is the Philippines an Orphan?
By Carlyle Thayer
The ongoing standoff between the Philippines and China raises troubling questions about the response to Chinese territorial assertiveness in the South China Sea.
Ashton opens EU office in Myanmar
During her visit to Myanmar on 28 April Catherine Ashton opened a new EU office headed by Andreas List, an Austrian EU official and expert on the country. The opening ceremony was attended by Aung San Suu Kyi and the Chief Minister of Yangon Region U Myint Swe.
EU-ASEAN Prospects
Opening the event, Fraser Cameron, drew attention to the intervention by Rod Severino, the former Secretary General of ASEAN who had offered a cautiously optimistic picture of the prospects for EU-ASEAN relations.
EU-ASIA Centre is a new think tank dedicated to promoting closer relations between the EU and Asia.
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