The region of Asia-Pacific used to be a hub of both multilateral and bilateral free trade agreements (FTAs). With geopolitics increasingly affecting multilateral trade negotiations and uncertainty over the Trans-Pacific Partnership rising, bilateral deals seem to regain their appeal for individual countries and established regional blocs.
In particular, free trade agreements supplemented with provisions on technical regulation, investment protection, and technology transfer (FTA+) are instrumental for ‘fine tuning’ bilateral cooperation given particular interests as well as competitive advantages of partner countries.
For the Eurasian Economic Union, Singapore and the Republic of Korea appear to be the most promising FTA+ partners due to their market potential and leading positions in hi-tech industries.
Success of these agreements will be decisive for negotiations with other regional partners of the Eurasian Economic Union, including FTA+ deals with other ASEAN members and future preferential trade agreement with China.
A Pivot Towards Asia, Integration and Mega-Regions. Balancing Russia’s APR Policy
As the confrontation between Western and non-Western powers for the right to define the future world order enters its decisive stage (the confrontations opposing Russia and the US and China with the US are only part of this struggle), Russia is becoming increasingly interested in stepping up its cooperation with other APR countries.