Bilateral EU free-trade deals can pave way for broader pact with Asean: DPM Gan
The two sides could move step by step in areas where progress can be made more quickly, he adds
Deputy Prime Minister Gan Kim Yong of Singapore suggested that bilateral free-trade agreements between the European Union and individual Southeast Asian nations could pave the way for a broader Asean-EU FTA. This idea came as the EU and the Philippines finalized their own FTA, highlighting a growing network of bilateral pacts between Europe and Asean member states.
Gan, who is also Singapore's minister for trade and industry, stated that these bilateral negotiations could help individual Asean countries and the EU better understand each other's needs and challenges, making future integration more feasible. The EU already has FTAs with Singapore and Vietnam, while a deal with Indonesia was finalized in 2025, and negotiations with Thailand and Malaysia are underway.
Gan emphasized the potential for a modular approach, tackling areas where progress can be made more quickly. European businesses have also called for a modular framework that could deepen economic ties gradually without waiting for a comprehensive FTA. The EU-Asean Business Council proposed prioritizing a digital trade agreement, followed by investment protection agreements and other sectoral deals.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
