EU-Asia Free Trade Areas? Economic and Policy Considerations

This paper analyses key aspects of the changing economic relationship between the European Union (EU) and Asia, and explored the potential economic ramifications of deeper EU-Asian economic cooperation. The paper also investigated the possible costs to the EU of remaining “disengaged” from the Asian integration process and the likely impact of multi-nested EU-Asian trade agreements. The empirical review of CGE models revealed trivial effects of several possible EU-Asian accords (e.g., EU-India, EU-ASEAN, EU-Republic of Korea). [ADBI Working Paper Series No. 255] URL: [http://www.adbi.org/files/2010.12.03.wp255.eu.asia.free.trade.areas.pdf]