Brussels, 14 December 2022 (TDI): The European Union (EU) and the Association of Southeast Asian Nations (ASEAN) meet for their first Summit today to deepen economic ties.
The Summit celebrates 45 years of diplomatic relations between the EU and ASEAN. It is being attended by the heads of state of 27 EU nations and nine of the ten ASEAN nations.
The Summit offers a chance to underline the EU’s and its Member States’ dedication to the strategic cooperation between ASEAN and the EU.
Furthermore, talks were held about trade, the transition to a greener and digital economy, and health as potential areas of future cooperation. The two blocs have already agreed to a pact that will make it easier for their airlines to extend services.
The topic of cooperation in the Indo-Pacific was also discussed. The common principles and synergies between the EU Indo-Pacific Strategy and the ASEAN Indo-Pacific Outlook were also emphasized.
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Ursula von der Leyen, President of the European Commission, plans to commit 10 billion euros for projects in the ASEAN. This also includes investments in sustainable agriculture and renewable energy.
Moreover, beyond its free trade agreements with Singapore and Vietnam and its talks with Indonesia, the EU seeks to deepen its economic connections. The regional groupings are each other’s third largest trading partners.
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They are also expected to demonstrate a commitment to a rules-based international order. Also, the EU makes a statement to call Russia’s invasion of Ukraine an act of aggression.
However, in 2020, the EU and ASEAN became strategic allies. The partnership was founded on common ideals and ideologies, such as free trade, an effective and sustainable multilateral system, and the rule-based international order.