Brussels, 29/03/2012 (Agence Europe) - On 1 April, in Phnom Pen, EU Trade Commissioner Karel De Gucht will be attending the annual summit of ministers from the ASEAN economic area and the 2nd ASEAN-EU Business Summit. Both gatherings will focus on strengthening trade and investment flows between the EU and the Association of South-East Asian Nations (Brunei, Burma/Myanmar, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand and Vietnam). De Gucht will also have individual meetings with his counterparts from the ASEAN bloc. This will provide an opportunity to take stock of bilateral trade questions, especially the development of free trade talks underway (Singapore and Malaysia) and scheduled talks (Indonesia, Philippines, Thailand and Vietnam).
Meetings scheduled in Phnom Pen “underline our dedication to engage ASEAN member states and the private sector in the region in order to strengthen our economic ties”, the commissioner comments in a press release. “Given the economic dynamism of the ASEAN region, I see considerable opportunities for working more closely together in the coming years”, he added. Since 2007, the EU has aimed to open up new trade and business opportunities in this fast growing region and create strong partnerships which support ASEAN's economic integration, the Commission stresses.
Bilateral trade of goods and services between the EU and ASEAN amounts to €206 billion, making the ASEAN region the fifth largest trading partner of the EU27. Making up over 10.7% of its trade, the EU is itself the third partner of the ASEAN bloc after China and Japan. On the other hand, the EU is by far the largest investor in the South-East Asian countries (20.6% of FDI in that area in 2008-2010). (EH/transl.jl)