Written Answers. - EU-Asian Trade Relations.
Bernard J. Durkan
Ceist:
64
Mr. Durkan
asked the
Minister for Foreign Affairs
if, in the context of his influence in the EU Council of Ministers, EU trade with Asia will be encouraged in a way to give fair opportunities to Asian and European interests; and if he will make a statement on the matter.
[17021/99]
Asia is a vast continent with enormous physical and human resources whose potential as a trading partner has long been recognised by the European Union. Although comparatively recent, the European Union's institutional engagement with Asia has been comprehensive and imaginative. It is a relationship which both sides want to see further strengthened and deepened.
EU trade relations with Asian countries are conducted through multilateral frameworks and bilateral agreements. The Asia-Europe or ASEM process is representative of the first model. ASEM comprises the 15 EU member states, seven of the ASEAN members (Thailand, Brunei, Philippines, Indonesia, Malaysia, Singapore and Vietnam), as well as Japan, China and South Korea. The first ASEM summit meeting was held in Bangkok on 1-2 March 1996. The chairman's statement from that summit identified a number of follow-up activities in areas such as trade and investment promotion which have constituted the basis for ongoing work. A priority has been to strengthen mutually beneficial economic and commercial ties between the two regions.
One of the concrete results of ASEM I was the establishment of the ASEM Business Forum. The forum has as its purpose the fostering of closer cooperation between the business and private sectors of the two regions. The forum has already held two meetings and is scheduled to meet again in Seoul at the end of September 1999.
It is well known that much of east and southeastern Asia has been undergoing a very difficult period over the past two years, as a result of the Asian financial crisis which has had serious consequences for the economies of a number of countries in the region. As part of the response to the crisis, a special ASEM trust fund was established under the aegis of the World Bank at the ASEM II Meeting in London in April 1999. The fund supports technical cooperation for financial sector restructuring and poverty assessment.
On the bilateral front, the EU has entered into agreements with individual countries of the region. Typical of these is the framework agreement for trade and co-operation with the Republic of Korea, the terms of which were approved by the Dáil on 23 June 1999. Broadly speaking, such agreements incorporate wide ranging provisions for the progressive development of trade relations and other forms of cooperation between the European Union and the partner country in question. The agreements are comprehensive in scope and include provisions for cooperation in areas as diverse as transport, culture, agriculture, science and technology and the environment. These agreements, which are approved by the Council, are the outcome of detailed negotiations between the EU and each partner country and therefore reflect, and are sensitive to, the needs of both parties. They are, in other words, fair and balanced.
Ireland's economic relations with Asia are substantial and continue to develop. In 1998, the region accounted for 12.2 per cent of Irelands total trade. Irish exports amounted to IR £2.886 billion, constituting some 6.4 per cent of our total exports. Imports from the region amounted to IR£6.356 billion or 20.4 per cent of our total imports. It is the Government's firm intention to further promote and develop Irelands trade ties with partner countries in this important region.
