EU, Indo-Pacific Bloc Explore New Economic Partnership
According to a news outlet, which shared the details on the social media platform X, discussions are being initiated between the EU and the Indo-Pacific trade bloc to establish what could become one of the largest economic partnerships globally.
The push for deeper cooperation comes as both sides look to strengthen economic coordination in response to tariff threats from US President Donald Trump. Reports indicate that Canada is playing a central role in advancing the proposal, following remarks by Prime Minister Mark Carney last month encouraging middle powers to stand firm against mounting trade war pressures.
Plans under consideration involve launching formal negotiations this year on an agreement aimed at more closely integrating supply chains between Europe and major CPTPP members. Countries expected to play key roles include Singapore, Mexico, Japan, Vietnam, Malaysia, and Australia.
If realized, the partnership could encompass roughly 40 nations. A key objective would be to agree on unified “rules of origin,” which define the economic nationality of goods and determine how products qualify for trade benefits.
Another major component of the proposed deal would focus on facilitating the exchange of goods and components between the two blocs under a low-tariff framework, making cross-regional production and trade more seamless.
“The work is definitely coming along,” a Canadian government official further told the news outlet.
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