New Danish strategy targets free trade with emerging markets in Asia

Ministry of Foreign Affairs of Denmark

20 July 2007

NEW DANISH STRATEGY TARGETS FREE TRADE WITH EMERGING MARKETS IN ASIA

A new trade policy strategy from the Government of Denmark aims at supporting international trade liberalisation and harvesting the benefits of globalisation. While trade liberalisation within the multilateral trade system in WTO remains the first priority, Denmark will support ambitious EU bilateral and regional free trade and investment agreements — especially with new growth markets in Asia.

The strategy called “An Assertive Trade Policy Strategy - Danish Trade Policy in a Globalised World” has been prepared to identify and dismantle the trade barriers encountered by Danish companies, especially on growth markets. At the same time Denmark wants to contribute to ensuring that trade liberalisation shows consideration for developing countries and upholds high environmental and social standards.

Gaining a share of future growth in emerging markets like Vietnam for Danish companies is singled out as one of the targets in the strategy, e.g. through strengthening local advice to Danish companies operating in these markets. An ambitious approach to EU bilateral and regional free trade agreements (FTAs) with the new growth markets is another target. Here, ASEAN is of specific interest and Denmark fully supports the negotiations for an EU-ASEAN FTA that were started this week in Vietnam.

As part of the strategy the Government of Denmark will launch a special effort to help Danish companies to maintain and increasingly take advantage of Denmark’s leading global position regarding Corporate Social Responsibility (CSR). CSR has increasingly become a global market requirement and many Danish companies are renown for their voluntary strategic work with social, ethical and environmental issues. In emerging markets CSR is still a relatively new phenomenon, but Denmark wants to make use of and support the growing interest for this topic in countries like Vietnam.

The strategy published on 27 June 2007 is an offspring of the work carried out by the Danish Globalisation Council, whose task was to advise the government on a strategy for developing Denmark into a leading society for growth, knowledge and entrepreneurship. The aim was to ensure that Denmark continues to rank among the best in the global economy.

An executive English summary of the strategy can be downloaded on this page. The summary consists of the foreword and the first two sections of the strategy serving as an executive summary containing the crux of the full report.

Edited July 20, 2007