The European Commission will this week formally request negotiating mandates from the European Council for a new generation of bilateral trade agreements with key partners India, South Korea and the regional grouping of ASEAN.
These three new deals are a key part of the Global Europe trade policy framework launched in October 2006, and according to the EC, "will complement the European Union’s strong commitment to the WTO multilateral trade agenda with agreements that go further and faster in promoting openness and integration and tackle issues which are not yet ready for multilateral discussion and by preparing the ground for the next level of multilateral liberalisation".
The three key partners identified for new agreements combine rapid growth, a high degree of market potential and high levels of protection against EU exports.
The European Commission hopes to begin negotiations on all three bilateral agreements early in 2007. The Commission will also request negotiating mandates on Wednesday for new agreements with the Central American and Andean regions, both of which will include enhanced trade and investment agreements.
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