Europe and ASEAN Advance Trade and Investment Cooperation
What happened
Europe and several Southeast Asian nations are nearing the conclusion of bilateral trade deals. Free trade agreements are already in force between the European bloc and Singapore and Vietnam. Talks are ongoing with Thailand, which have seen nine negotiating rounds since relaunching in 2023. The EU also announced it had reached substantial agreement with the Philippines, putting its free trade agreement on track for formal conclusion in the coming months.
From dw.com
Why it matters
The EU-ASEAN goods trade reached €274.9 billion last year, representing a 6% year-on-year increase. This volume makes ASEAN the EU's third-largest goods trading partner outside of Europe, behind only the United States and China.
From dw.com
Who's involved
- EuropeThe European bloc involved in trade negotiations and trade volume growth.
- Association of Southeast Asian NationsThe organization representing the Southeast Asian countries involved in regional cooperation.
How this reaches others
Each traced step by step, with the reporting behind itHow it developed
Newest first. Tap a step to see who reported it.- The EU-Asean Business Council urged the establishment of a region-to-region economic framework to enhance cooperation.Sub-event
Europe and ASEAN cooperate on trade and investment issues.1 source
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The entities involved
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Europe
terrestrial continent located in north-western Eurasia
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Association of Southeast Asian Nations
international organisation of Southeast Asian countries
Related events
- ASEAN discussed trade relations with India.
- ASEAN promoted cooperation among nations in Southeast Asia.
- Vietnam, China, and ASEAN are collaborating to seek market scale and diversify supply chains, including reviewing the Asean-India Trade in Goods Agreement.
- India is urged to broaden its trade partnerships into Europe and strengthen its focus on Southeast Asia.
- India is a key partner of ASEAN.