EU finally clinching trade deals with Southeast Asian states
After years of arduous negotiations, the EU is closing on a string of bilateral trade deals with countries in Southeast Asia. And yet, a bloc-to-bloc agreement between the EU and ASEAN remains a distant prospect.
The European Union (EU) is close to finalizing trade agreements with six out of 11 Southeast Asian countries by mid-2025, according to recent developments. Singapore and Vietnam already have free trade agreements in place, while talks with Indonesia are nearing completion, with a target signing date set for October 2025 and implementation expected early 2027.
Thailand, Malaysia, and the Philippines are also expected to sign agreements by the end of this year or early 2027. The EU's trade with ASEAN has grown significantly, reaching €274.9 billion in 2023, up from €177.9 billion in 2016. This growth highlights Southeast Asia's increasing importance to European companies as a hub for semiconductors, electronics, electric vehicles, and digital services.
The EU is keen on forming a stronger partnership with Southeast Asia, with the EU-ASEAN Business Council advocating for a region-to-region economic framework, including a digital trade agreement and an investment protection deal.
Written by urgent.news from DW News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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