Core Viewpoint - The European Union (EU) is increasingly focusing on the Asia-Pacific region to strengthen economic cooperation and mitigate internal and external risks amid changing transatlantic relations and U.S. tariff pressures [1][2]. Group 1: Economic Cooperation and Strategic Shift - The EU has historically prioritized economic cooperation with the Asia-Pacific region, as evidenced by official documents dating back to 1994 and subsequent strategies emphasizing connectivity and trade agreements [2][3]. - The EU's renewed focus on Asia is driven by the need to seek opportunities and mitigate risks in a volatile geopolitical landscape [2][3]. Group 2: Economic Potential of the Asia-Pacific Region - The Asia-Pacific region accounts for approximately 30% of global GDP, making it a highly attractive market due to its economic vitality and potential for growth [3]. - The International Monetary Fund (IMF) projects that Asia's GDP will grow by 4.6% in 2024, with growth rates of 3.9% and 4% expected in 2025 and 2026, respectively, significantly outpacing global averages [3]. - The region's trade dynamics are also robust, with actual export and import growth rates of 3.4% and 3.6% in 2024, compared to global rates of 1.8% and 2.2% [3]. Group 3: Current Trade Relations and Challenges - The EU's presence in the Asia-Pacific trade landscape is limited, accounting for only 8% of ASEAN's external trade, indicating a relative withdrawal over the past two decades [4]. - The rise of U.S. protectionism has increased the need for the EU and Asia-Pacific countries to strengthen their economic ties and diversify partnerships [4]. - Strengthening cooperation between the EU and Asia-Pacific can reinforce the traditional consensus on supporting a multilateral trade system and enhance joint efforts in reforming international trade rules [4]. Group 4: Existing Agreements and Future Prospects - The EU has established free trade agreements with several Asia-Pacific countries and has reached digital partnership agreements with Japan and Singapore, indicating a foundation for deeper cooperation [5]. - A pragmatic approach to economic development and addressing mutual concerns in regulatory standards and market access could accelerate the EU's vision of connecting Europe and Asia [5].