The 24th ASEAN-EU Ministerial Meeting convened on February 2nd within Brussels’ diplomatic corridors, yielded a unanimous decision to amplify trade and investment synergies between the Association of Southeast Asian Nations (ASEAN) and the European Union (EU). This assembly marks a pivotal juncture towards fortifying economic relations between these two influential entities.
Gathering ASEAN foreign ministers, EU member states, the ASEAN Secretariat, and the European Commission, alongside Timor-Leste as an ASEAN observer, this conclave resulted in a collective resolution to harness the vigorous economic ties fostered over the years. Recognizing the EU as ASEAN’s distinguished third-largest foreign investor and trading ally in 2022, underscores the EU’s instrumental role in ASEAN’s economic realm.
The Joint Ministerial Statement articulated from Jakarta, propels both entities to leverage this upbeat momentum. “We were encouraged by the robust economic cooperation between ASEAN and the EU, with the EU being ASEAN’s third-largest foreign investor,” the declaration illuminated.
Chaired by Philippine Foreign Affairs Minister Enrique Manalo and EU Vice President Josep Borrell, the dialogue pinpointed resolving protracted market access dilemmas and broached enhancing trade and investment through bilateral free trade agreements, propelling sustainable development, and fortifying connectivity.
The forum accentuated collaboration across vital sectors, embracing the digital economy, green technologies, sustainable commodity production, and supply chain resilience. This dialogue reaffirmed a united aspiration towards an ASEAN-EU Free Trade Agreement (FTA).
Beyond economic discourse, the assembly commemorated 47 years of ASEAN-EU Dialogue Relations, lauding the comprehensive, evolving partnership founded on mutual values and interests. A reiteration of the commitment to peace, security, and stability, alongside respect for international law and the promotion of human rights and gender equality, resonated strongly.
Furthermore, ASEAN’s endorsement of Timor-Leste’s complete membership and the EU’s support for Timor-Leste’s accession to the World Trade Organization (WTO) highlighted a unified endeavor to weave Timor-Leste into the global and regional economic fabric.
This landmark conclave not only reinforces the economic linkages between ASEAN and the EU but also charts a visionary course for collaboration across key arenas, heralding a future of mutual prosperity and sustainable progress for both regions.
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