Joint Media Statement from the 24th ASEAN-EU Ministerial Meeting: Enhancing Partnership and Strategic Cooperation Between ASEAN and the European Union

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ASEAN–China Trade Reaches New Heights, Amidst Balancing Act with US

Beijing/Kuala Lumpur – Trade between the Association of Southeast Asian nations (ASEAN) and China surged to US$772.2 billion last year, according to recent statements. This enhanced economic cooperation was a key discussion point during the 24th ASEAN-MOFCOM Consultation, where both sides reaffirmed their commitment to strengthening trade ties thru various agreements. Concurrently, ASEAN nations are navigating a delicate balance in their relationships with the US and China, emphasizing the importance of pragmatic neutrality.

The deepening economic relationship with China includes a focus on trade resilience, an analyst pointed out, implying a drive for stability and continuity in the face of global uncertainties. This comes amidst broader geopolitical considerations, with ASEAN nations striving to maintain productive relationships with both the world’s major economic powers.

Pragmatic neutrality is seen as crucial for managing these complex dynamics, allowing ASEAN to benefit from economic partnerships while avoiding exclusive alignment. This approach is reflected in ongoing dialogues and collaborations aimed at fostering mutual benefit and stability in the region.

The 24th AEM-MOFCOM Consultation underscored ASEAN’s commitment to robust and mutually beneficial economic ties with China, solidifying the region’s position as a key player in global trade.

What specific actions did the EU pledge to support ASEAN in achieving its climate change goals?

Key Outcomes of the 24th ASEAN-EU Ministerial Meeting

the 24th ASEAN-EU Ministerial Meeting, held recently, underscored a renewed commitment to strengthening the strategic partnership between the Association of Southeast Asian Nations (ASEAN) and the European Union (EU). This meeting, a crucial platform for ASEAN-EU relations, focused on bolstering cooperation across a wide spectrum of areas, from economic recovery and digital change to security and lasting advancement. The joint media statement released following the meeting details a thorough roadmap for future collaboration.

Deepening Economic Ties: Trade, Investment & Recovery

A significant portion of the discussions revolved around fostering economic resilience and sustainable recovery post-pandemic. Key highlights include:

* EU-ASEAN Trade: Both sides reaffirmed their commitment to achieving a balanced and mutually beneficial trade relationship. Discussions centered on reducing trade barriers and promoting greater market access for businesses. The potential for a comprehensive EU-ASEAN free trade agreement was also explored, though timelines remain undefined.

* Investment Promotion: Recognizing the importance of foreign direct investment (FDI), the meeting emphasized the need to create a more conducive investment climate in ASEAN member states. The EU pledged continued support for initiatives aimed at improving the ease of doing business and attracting European investment in Southeast asia.

* Green Transition & Sustainable finance: A key focus was aligning economic recovery with the principles of sustainability. The EU and ASEAN agreed to collaborate on promoting green finance, renewable energy technologies, and circular economy practices. This includes supporting ASEAN’s transition to a low-carbon economy.

* Digital Economy Collaboration: Recognizing the rapid growth of the digital economy, the meeting highlighted the importance of digital transformation. Areas of cooperation include digital infrastructure development, cybersecurity, data governance, and promoting digital skills.

Strengthening Political and Security Cooperation

Beyond economic ties, the ASEAN-EU partnership extends to crucial areas of political and security cooperation.

* Maritime Security: The South China sea issue was addressed, with both sides reaffirming the importance of maintaining peace, stability, and security in the region.the EU reiterated its support for a rules-based international order, including the full and effective implementation of the United Nations Convention on the Law of the Sea (UNCLOS). ASEAN maritime security remains a priority.

* Counter-Terrorism & Transnational Crime: cooperation in combating terrorism, violent extremism, and transnational crime, including human trafficking and drug trafficking, was reaffirmed. This includes information sharing, capacity building, and joint initiatives.

* Regional Stability: The meeting addressed regional security challenges,including the situation in Myanmar. The EU expressed its continued concern over the political crisis and called for a peaceful resolution, respecting democratic principles and human rights. ASEAN’s role in Myanmar was a central discussion point.

* Cybersecurity Cooperation: With increasing cyber threats, the EU and ASEAN agreed to enhance cooperation in cybersecurity, including sharing best practices and developing joint responses to cyberattacks.

Sustainable Development goals (SDGs) and Climate Action

The commitment to achieving the Sustainable Development Goals (SDGs) was a recurring theme throughout the meeting.

* Climate Change Mitigation & Adaptation: Both sides acknowledged the urgent need to address climate change. The EU reaffirmed its commitment to supporting ASEAN’s efforts to reduce greenhouse gas emissions and adapt to the impacts of climate change. This includes providing financial and technical assistance for climate-related projects.

* Environmental Protection & Biodiversity: Cooperation on environmental protection, biodiversity conservation, and sustainable management of natural resources was highlighted.This includes addressing deforestation, pollution, and illegal wildlife trade.

* Health Security: Lessons learned from the COVID-19 pandemic underscored the importance of strengthening health security cooperation. the EU and ASEAN agreed to collaborate on pandemic preparedness, disease surveillance, and access to vaccines and essential medical supplies. ASEAN health cooperation is vital for regional stability.

People-to-People Exchanges & Cultural Cooperation

Recognizing the importance of fostering closer ties between the people of ASEAN and the EU,