Commissioner Mandelson travels to Asia

EU Trade Commissioner Peter Mandelson departs today for Asia, where he will make official visits to Hong Kong, Vietnam, Thailand and Singapore. He will take part in the ASEAN Economic Ministers Retreat in Vietnam on April 27 and give a keynote speech at the World Economic Forum Asia Round Table in Singapore on April 29. He will meet with the Prime Minister of Vietnam Phan Van Khai, the Prime Minister of Thailand Thaksin Shinawatra and Prime Minister of Singapore Lee Hsien Loong.

Speaking before his departure Commissioner Mandelson said: "Over the last twenty years the European Union's relations with Asia have changed beyond recognition. Europe's huge economic investment in the region is still not properly matched by an equivalent political commitment. Europe has to take its political and strategic relationship with Asia to a new level, and ever closer trade links are a key part of this. There is a tendency in Europe to see a booming Asia simply as a commercial competitor, but it is also a huge new market for European goods and investment. Europe and Asia do not have to choose between economic competition and strategic partnership."

The Association of South East Asian Nations (ASEAN) Economic Ministers Retreat in Vietnam on April 27 will bring together Economic Ministers from the 10 South East Asian countries. The EU has been invited to share views. The enlarged EU is ASEAN's second largest trading partner and third largest export market, absorbing more than 15% of ASEAN exports. This is a growing relationship: since 1990 EU imports from the ten ASEAN countries have grown by 10% year on year. Commissioner Mandelson will reinforce the European Commission's desire for closer trade and political links with ASEAN. The Commissioner will reiterate the EU's support for moves towards greater regional economic integration among ASEAN members.

With Vietnam hoping to accede to the WTO in 2006, Commissioner Mandelson will discuss the accession with Prime Minister Phan.

In Thailand on April 28 Comissioner Mandelson will meet with senior Thai officials and business representatives and with leaders from European Chambers of Commerce in Asia. Thailand stands to benefit from increased preferential trade access when the EU's new Generalised System of Preferences enters into effect.

Commissioner Mandelson will give a keynote speech at the Asian Round Table of the World Economic Forum in Singapore on April 29. He will argue that Europe has to see beyond the competitive challenge of Asia to the potential benefits of closer commercial and strategic partnership with the world's fastest growing regional economy. He will argue that the EU has much to gain from closer regional integration in Asia and that Asia can benefit from the experience of the European Union.

| Top |

• Speech by Commissioner Mandelson: Tilting the global balance: Asia's new trade growth (29/4/2005)