The High Representative of the European Union for Foreign Affairs and Security Policy and the European Commission have adopted a joint communication entitled “The EU and ASEAN: A partnership with a strategic purpose” with the intent to develop an “ambitious free trade agreement” between the two blocs, according to a press release on May 22.
The joint communication aims to boost EU-ASEAN relations, providing a clear framework for sectoral cooperation which dovetails closely with the EU-ASEAN Business Council’s policy priorities.
Through the joint communication, the EU is seeking to take trade relations with ASEAN to a different level and working towards an ambitious region-to-region Free Trade Agreement (FTA) building on bilateral agreements between the EU and ASEAN Member States, step up connectivity, and strengthen collaboration on climate change and sustainable development.
Commenting on the adoption of the Joint Communication, EU-ABC Executive Director Chris Humphrey said: "The EU-ASEAN Business Council welcomes the commitment by the European Union to strengthen its partnership with ASEAN. This is testament to the importance of the ASEAN region as a key driver of the global economy. ASEAN and Europe are natural partners and are undertaking their own processes of economic integration. Europe is the largest investor into ASEAN, and is the region's second largest trading partner. This new commitment will build on the already strong trade and investment relationship. The EU-ABC looks forward to working closely with the European Commission to make the commitments in the Joint Communication a reality.”