In the face of mounting scepticism against open economies, there is a pressing need to defend and demonstrate how global market exchanges can be a force for good, especially between the intersections of trade and development in both industrialised and emerging economies.
In keeping with the Europe 2020 strategy and the UN Sustainable Development Goals on building sustainable and inclusive economies, we have made it our twin objective to promote growth prospects in developing countries through trade and to help responsible European enterprises to grow internationally both within and outside Europe.
Trade for growth in developing economies
Taking a wide view of economic globalisation, especially in the context of European and Southeast Asian economies, Europdev understands that small and medium enterprises (SMEs) serve as the economic backbone of these two regional blocs. It is, therefore, imperative that SMEs become ultra-competitive not only in their home markets but also abroad. By integrating in international supply chains, SMEs become levers of economic growth, innovation, job creation, and societal integration.
From this point of view, we are driven to guiding SMEs from emerging and vulnerable economies to do more trade with the EU under preferential trade agreements. Currently, exporters from 74 countries are qualified to take advantage of the EU’s standard Generalised Scheme of Preferences (GSP), enhanced GSP framework (GSP plus), and Everything But Arms (EBA) initiative.
Regrettably, trade technicalities discourage most exporters from applying for these incentives, while some are simply unaware that they can trade their goods with the EU under these favourable arrangements. We are here to help close these gaps for eligible exporters from Southeast Asia, namely Indonesia (GSP), the Philippines (GSP plus), Cambodia (EBA), Laos (EBA), and Myanmar (EBA). By the same token, we welcome requests from beneficiary Latin American, African, Caribbean, and Pacific exporters who are interested in supplying their goods to EU markets.
Growth through trade for European enterprises
Apart from energising North-South trade routes, Europdev also champions stronger trade relations within the European Economic Area (EEA) to further elevate competitiveness, innovation, and employment opportunities in the internal market. More specifically, we specialise in providing market entry support to the fastest-expanding EU region: Central and Eastern Europe.
Given that more than 90% of global economic expansion is expected to come from non-EU regions, internationalisation to overseas markets presents untapped opportunities for EU enterprises, especially SMEs, to grow and remain competitive in a hyper-integrated global economy.
Europdev takes up the EU’s most recent joint communication on enhancing connectivities between Europe and Asia, particularly in the fields of sustainable economics and industrial cooperation. Thanks to our strategic partners in East Asia and Southeast Asia, we are well-positioned to ease the market entry of EEA+UK enterprises to high-growth and demand-driven Asian economies as diverse as Japan, South Korea, Singapore, Vietnam, and the Philippines.