EU summit showcases focus on the Asia-Pacific

THE “pivot” to the Asia-Pacific is a term first popularised by US policymakers during the Obama administration. However, it also highlights the European Union’s (EU) increasing focus on the world’s fastest-growing economic region, including Singapore, in a way that is often overlooked.

The latest signal of intent from the Brussels-based club toward the Asia-Pacific comes this Saturday (May 13) with the EU’s Foreign Affairs and Security Policy chief Josep Borrell co-chairing the EU Asia-Pacific ministerial forum in Stockholm. With the aim of strengthening the partnership between the EU and the Asia-Pacific region, the summit will bring together around 60 foreign ministers, along with representatives of regional organisations and other partners.

The Asia-Pacific region, which extends from the east coast of Africa to the island nations of the Pacific Ocean, is home to three-fifths of the world’s population. It accounts for 60 per cent of global gross domestic product, two-thirds of global growth, 40 per cent of the EU’s total imports and, together with the EU-27, drives 70 per cent of global trade too.