Trade relations between Europe and East Asia

The Asia-Europe Meeting (ASEM) framework was created in 1996, with the primary purpose of strengthening economic, political and cultural relations among the 15 countries of the European Union and ten East Asian states. This paper examines the origins of these recent economic linkages, in a global and inter-regional context.¶The paper charts the principal elements of ASEMs economic pillar to date, assesses the influence of multilateral trading environments (notably the WTO) on the region-to-region dialogue and examines ASEMs impact on intra-regional economic developments, especially in the case of East Asia.¶The paper will focus in particular on the flagship projects of trade and investment facilitation, to discuss whether and to what extent ASEM itself can be seen to further cooperation and coordination in specific fields of activity.¶The final part of the paper aims to analyse the prospects for future economic relations between East Asia and Europe, in the wake of a devastating financial crisis in Asia, in the context of a continued war on terror which, since the Bali bombing has had an even more immediate impact on Asia, and in the changing global economic environment as regulated by the tenets of the WTO.