Globalisation’s like a clock ticking: EU

“Jobs have been lost since the 1920s. These are cycles: Some people do things better than the others. These are changing realities…the challenge is to make all this rule-based,” he said. “For example, in a knowledge-based society there are licence agreements.”

Asked how these nuances could be explained to a European worker who feared losing his job, Cowen said, “we, in Europe, regard outsourcing as a growing phenomenon in the onward march of a rules-based global system. In Ireland, for instance, were’re doing certain parts locally, certain parts in California and certain others elsewhere. All of this is based on skills. I think we need to do more of this in bio-technology and nano-technology and as minister Sinha said high-tech co-operation will be a very important part of the Indo-European partnership.”

On the challenge of keeping trade negotiations on course, he flagged “the need to get on to the negotiating table quickly.” He said “only a multilateral framework provides long-term stability and sustainability.”

Having said that he echoed Brussels’ happiness that South Asian leaders had started citing Europe’s unification as a framework for their future. “We are very supportive, we know how integration is an imperative. We’ll provide all assistance to the Saarc, say, on integration, how you go into a customs union, how you harmonise the technology aspects. If regional co-operation works, we — as the biggest investor and trade partner — will gain the most. It’s in our self interest!”