SINGAPORE, April 29: The European Union will consider bilateral free trade agreements (FTAs) with Asian nations, EU Trade Commissioner Peter Mandelson said here on Friday, amid a continuing impasse in global trade talks. Mandelson, however, said such pacts should “not detract” from efforts to forge a multilateral agreement in the Doha Round of World Trade Organization (WTO) negotiations.

Speaking at the World Economic Forum (WEF) Asia Roundtable in Singapore, Mandelson admitted the multilateral agenda “does not cover all areas of trade and economic cooperation” such as investment and transparency in government procurement.

He also said reaching a consensus among all 148 WTO members was at times slow and frustrating.

“We should therefore not rule out opportunities to add these topics through regional or bilateral negotiation, including with Asian partners, both on market access and on rules,” the EU trade chief said.

“That is why I am open to evaluate, on a case by case basis, possibilities for regional bilateral trade agreements as long as this does not detract from our multilateral efforts in the Doha Round.”

Meeting in Vietnam earlier this week, Mandelson and Southeast Asian economic ministers agreed to study a potential FTA between the Association of Southeast Asian Nations (Asean) and the European Union. The feasibility study is expected to be completed this year.

Mandelson noted that even the United States was increasing its influence in Asia through bilateral FTAs.

Asean, a 10-nation regional bloc of half a billion people, is also negotiating FTAs with China, Korea, Japan and even India.

While there is a risk these regional efforts can detract from multilateral trade liberalization efforts, experience has shown that bilateral trade talks can be complementary to each other, Mandelson said.

On Thursday, WTO chief Supachai Panitchpakdi, warned that faltering talks on a treaty to liberalize global commerce were close to crisis.

Mandelson said he hoped a “mini-ministerial” meeting in Paris next week will lead to some progress on the current talks bogged down largely by a dispute between developed and developing nations over subsidies to the farming sector.

“We must not let an ambitious conclusion of the Doha round slip from our grasp. Next week’s meeting will be a significant test of ... political will and resolve to make the progress we need,” Mandelson said.—AFP