In Laos, on Thursday 10 October, as part of the ‘ASEAN Business and Investment Summit’ organised on the occasion of the Summit of the Association of Southeast Asian Nations (ASEAN), the President of the European Council, Charles Michel, said he wanted to strengthen the economic partnership between the EU and this organisation.
Over the past decade, the EU has been the second largest source of foreign direct investment in the region.
In terms of bilateral trade relations, Mr Michel welcomed the conclusion of free trade agreements with Singapore and Vietnam, and the negotiations underway to seal agreements with Thailand, the Philippines and Indonesia, and possibly relaunch negotiations with Malaysia.
“All these agreements have the potential to form the backbone of a possible region-to-region free trade agreement, an objective that I fully support”, he said.
He also saw digital trade as another area with great potential for closer cooperation, citing in particular the agreement with Japan on data flows.
“We would like to finalise negotiations for an ASEAN Digital Economy Framework Agreement in the coming year”, he added.
The President of the Council went on to give several examples of flagship projects in the region to finance the construction of so-called ‘clean’ infrastructure, promote the energy transition and support sustainable connectivity between the EU and ASEAN.
Finally, he called for a de-escalation of tensions in the South China Sea (see EUROPE 13473/11), recalling that around a third of the EU’s maritime trade in goods passes through this strategic zone. (Original version in French by Pauline Denys)