Negotiations for a free trade agreement between the EU and several ASEAN countries (the association of Southeast Asian nations) are of economic importance to Germany. The ASEAN region is experiencing dynamic growth and there is great potential for economic cooperation with Europe. The EU is currently negotiating with some ASEAN members, while initial negotiations with the whole region have not yielded concrete results. The development of multilateral trade relations is a priority for both Germany and the European Union. The EU`s position on bilateral free trade agreements (FTAs) has developed since 2007 in light of bilateral free trade agreements concluded by some of Europe`s key trading partners (including the US and Japan) that could compromise the competitiveness of European companies in world markets. The new generation of free trade agreements that the EU intends to conclude with other countries is broad and covers a wide range of aspects. These agreements deal not only with the issue of tariffs (for example. B, tariffs, export subsidies), but also rules on services, the removal of non-tariff barriers and other trade-related aspects, such as investment and competition. Since the scope of these agreements goes beyond the WTO agenda, they are often referred to as “WTO agreements.” appropriate conditions, including possible financial conditions, under the 7th PC rules, taking into account the particular circumstances of the access request, for example. B the actual or potential value of the field or fund to which access is requested and/or the scope, duration or other characteristics of the intended use. The EU is accompanied by representatives from 13 non-EU countries.
The first round of negotiations took place in Geneva in July 2014. After 17 rounds of negotiations, the agreement is expected to be concluded by the end of 2016. For more information on the proposed agreement, please visit the European Commission`s website. Vietnam: On 30 June 2019, the EU and Vietnam signed a free trade agreement and an investment protection agreement in Hanoi. Germany is Vietnam`s largest trading partner in the EU and welcomes the signing of the agreement. The free trade agreement will facilitate access for German products to the growing Vietnamese market. Like the agreement with Singapore, the Investment Protection Agreement with Vietnam sets high and precise standards for investment protection and establishes a reformed dispute settlement procedure.