Merkel pushes EU, Southeast Asia free trade pact

German Chancellor Angela Merkel on Wednesday said Europe must step up its efforts to establish a free trade pact with booming Southeast Asia.

"I am deeply convinced that Europe has to hurry up in setting up a free trade agreement with this region if it wants to be able to compete," she said during a visit to Jakarta.

As European nations are struggling to climb out of debt, Southeast Asian nations are experiencing strong growth. Indonesia grew 6.5 percent in 2011 and is forecast to grow at the same pace this year.

On Tuesday, Merkel and Indonesian President Susilo Bambang Yudhoyono pledged to boost trade, which now stands at around $7 billion, and Indonesian officials forecast it to reach $12 billion by 2014.

The 10-member Association of Southeast Asian Nations (ASEAN) and the European Union in May 2007 agreed to start free trade agreement talks after years of wrangling over human rights abuses in Myanmar.

The EU has begun negotiating agreements with individual ASEAN states, including Malaysia and Singapore. Myanmar in April pushed for an EU-ASEAN agreement, citing major reforms in the country.

ASEAN as a whole represents the EU's third-largest trading partner outside Europe, with more than 206 billion euros ($253 billion) of trade in goods and services in 2011, according to the European Commission.

The EU is ASEAN's second-largest trading partner after China, accounting for around 11 percent of ASEAN trade.

ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Merkel, who arrived for her first official visit to Southeast Asia's largest economy on Tuesday, was due to depart for Berlin later Wednesday.

She also visited a tsunami early warning centre in Jakarta, built with help from German experts and 53 million euros of German funding after a tsunami in 2004 killed 170,000 people in Indonesia's Aceh province

The system consists of a network of tidal gauges, buoys and seismic monitors.

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • Pacmania sweeps Philippines ahead of Mayweather clash
    Pacmania sweeps Philippines ahead of Mayweather clash

    Manny Pacquiao's face is on shirts, dolls and postage stamps, his life story is playing in movie houses and millions are getting ready to party as the Philippine boxing hero's "fight of the century" nears. Pacmania is sweeping the Southeast Asian nation of 100 million people ahead of the May 2 Las Vegas bout against unbeaten Floyd Mayweather to decide who is the best boxer of their generation. Of course, it's the fight of the century," Manila film producer Lucky Blanco told AFP. …

  • Ex-Cavite governor gets PCSO top post
    Ex-Cavite governor gets PCSO top post

    After nearly a year, President Aquino finally made good his promise to a long-time ally – former Cavite governor and congressman Erineo Maliksi – to head the Philippine Charity Sweepstakes Office (PCSO), replacing Margarita Juico who resigned in May 2014. Maliksi must be officially elected by the PCSO board members as their chairman. Prior to his appointment to the PCSO, Maliksi faced graft charges before the Sandiganbayan in connection with the alleged illegal purchase of P2.5 million worth …

  • US, Phl military exercises to focus on sea defense
    US, Phl military exercises to focus on sea defense

    A massive deployment of aircraft, personnel and warships characterizes this year’s Balikatan between the two allies, which war games were launched 30 years ago. Commander Lued Lincuna, Philippine Navy public affairs chief, said the Marine Battalion Landing Team-4 (MBLT-4) will link  up with the US 3rd Marine Expeditionary Force. …

  • P-Noy seeking united Asean stand on China
    P-Noy seeking united Asean stand on China

    With China’s actions threatening to “considerably alter the way of doing business globally,” President Aquino will ask the Association of Southeast Asian Nations (ASEAN) to take a united stand against Beijing’s massive reclamation activities and other provocative acts in the West Philippine Sea and South China Sea. Aquino will raise the appeal to his ASEAN counterparts when they meet on April 27-28 in Kuala Lumpur and Langkawi in Malaysia. Beijing reacted immediately to the plan, saying the …

  • OIC exec backs BBL, says passage to end extremism
    OIC exec backs BBL, says passage to end extremism

    The Organization of Islamic Cooperation (OIC) yesterday backed the proposed Bangsamoro Basic Law (BBL), warning that failure to see the peace process through with the Moro Islamic Liberation Front (MILF) could open the door to extremism. OIC secretary-general Iyad Bin Amin Madani, who is in the country to rally support for the peace process and the BBL, told reporters at the Senate yesterday that the Philippines should not waste the opportunity to attain lasting peace in Mindanao, especially …

  • Senate plan to probe corruption in judiciary opposed
    Senate plan to probe corruption in judiciary opposed

    The head of the Integrated Bar of the Philippines (IBP) is opposing the plan of the Senate to investigate alleged “justice for sale” in the judiciary. In an interview yesterday, IBP national president Vicente Joyas contested the pronouncement of Senate President Franklin Drilon that the Senate Blue Ribbon committee can probe the reported corruption in the judiciary, as it remains part of the scope of the Senate’s investigative power. “The plan of the Senate to push through with the …

  • PNP: Floyd camp charging P.2 M for pay-per-view
    PNP: Floyd camp charging P.2 M for pay-per-view

    The camp of Floyd Mayweather is reportedly charging the Philippine National Police P200,000 for a pay-per-view deal of his fight with Manny Pacquiao, a PNP official said yesterday. Director Danilo Constantino, the PNP’s Chief Directorial Staff, said the cost of the pay-per-view for the fight makes it difficult for the PNP to sponsor the free viewing for its personnel and their dependents at Camp Crame’s multi-purpose center. “We are currently negotiating for the pay-per-view and we ever …

  • No disruption in gun permit issuance – PNP
    No disruption in gun permit issuance – PNP

    There has been no disruption in the issuance of permits to carry firearms outside residence (PTCFOR) since former Philippine National Police (PNP) chief Director General Alan Purisima was suspended in December 2014, an official said yesterday. PNP officer-in-charge Deputy Director General Leonardo Espina is the one signing the PTCFOR cards, PNP spokesman Chief Superintendent Generoso Cerbo Jr. said. Cerbo, however, could not say when Espina started signing the cards and how many PTCFORs have …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options