Events

The World Bank Regional Vice-Presidency for Middle East & North Africa (MENA) and The European Centre for International Political Economy (ECIPE) invite you to a book launch and discussion event: From Political to Economic Awakening in the Arab World: The Path of Economic Integration

The competitiveness of EU manufacturing is increasingly dependent on services. Logistics, maintenance, consulting, financing and data processing are integral part of any competitive offering in technology, machinery, processing and consumer businesses. Efficient services consumed by the manufacturing companies in their daily operations are also an integral part of their competitiveness. Services provided and consumed by EU manufacturing contribute to a significant share of their incomes. Services have transformed the way goods are traded while digitalisation has turned many goods into services – a concept we call servicification.

Liberalisation of trade in services is currently not progressing under the Doha round of trade negotiations. Instead, plurilateral and regional agreements have currently become the most common way to advance liberalisation and co-operation. In relation to this, the European Commission recently requested a mandate from the Council to engage in negotiations on a new plurilateral international agreement on trade in services (ISA). 


One of the driving forces of trade expansion in the past two decades has been the globalisation and fragmentation of supply chains in international business. Recently, a new data base by the WTO and the OECD has shed lights on how transformative this force has been, reinforcing the anecdotal and scattered evidence existing before. But what are the implications for trade-policy strategy? How should strategies to free up trade and establish stronger disciplines be designed as to fit with how global trade work today?

No doubt the world economy is undergoing some profound structural changes. Even if the crises in the past years have been felt everywhere, rising and globalising Asia – together with some economies in other parts of the world – has continued its rapid economic expansion. It represents a large portion of global production, trade and investment – and the lion share of world growth for the rest of this decade is estimated by the International Monetary Fund and others to be generated in Asia.

The Argentinean government’s intentions to strengthen national industries and stabilise its current accounts have led to irresponsible trade and investment policies. Various forms of import restrictions are lined up and international investment rules are ignored by the Argentinean government.

2013 is set to be a crucial year for market integration in the Asia-Pacific. The launch of the TPP negotiations will be followed by RCEP (ASEAN plus Australia, China, India, Japan, Korea and New Zealand) announced at the East Asia Summit in November, together with the surprise announcement of the three-party FTA between China, Japan and Korea (CJK).

The rise of the Renminbi (RMB) as a key currency in international financial markets has been fast. It reflects China’s general expansion in the ‘real’ world economy, and its accumulation of official foreign exchange reserves. There is no doubt that the role of the RMB for the global economy will increase. Just three decades ago, that seemed like a very remote notion. The question now is if the RMB will assume a pivotal role as an instrument for transactions in international trade and investment as well as, ultimately, as a reserve currency.

Greater openness to trade and investment with Asian growth economies would help to boost Europe’s services sector. A particularly interesting market for European firms is Taiwan. Its services market has grown fast in the past decades, and today Taiwan is increasingly becoming a hub for services firms trading with other countries in the region. This is particularly true for trade with China as the cross-Strait rapprochement has opened up for new opportunities of regional services integration in East Asia. Many other countries are now moving to be part of this integration. What should be Europe’s response?

It is said that we live in the Age of Asia – the global economy is increasingly dependent on Asian markets and political attention is swinging to the Asian-Pacific region. The latter is especially true with respects to business and trade. With the potential for a TPP or RCEP (regional agreement centred around ASEAN), a new regional architecture is emerging