Europe and ASEAN Advance Trade and Investment Cooperation
The latest in this situation
How it started
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.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.How it developed
Newest first. Tap a step to see who reported it.- Norway and EFTA are deepening bilateral ties and signing a Free Trade Agreement with EFTA member states, while also contributing to ASEAN relations.Sub-event
- 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
- Marco Rubio participated in a ministerial gathering focused on geopolitical tensions and regional energy security in the Indo-Pacific.
- The Philippines is hosting talks as part of the ASEAN Foreign Ministers’ Meeting, focusing on deepening bilateral cooperation and investment ties with various Asian partners.
Related events
- The Singapore Food Agency is conducting research into the regional impact of rice production across ASEAN.
- High-level discussions confirm that Indonesia's bilateral relationships are strategic, mutually beneficial, and that the country serves as a gateway for European relations with Asia.
- ASEAN ministers discussed South China Sea tensions and Trump's tariffs during a recent summit.
- Chinese exports are challenging established European industries, with particular attention paid to high-end goods like those produced by Gucci.
- Trade talks are underway to advance market access, pushing forward negotiations on various issues involving ASEAN.