In the crosshairs of great power competition, ASEAN’s priority has always been to maintain strategic balance and avoid being confined to a binary choice between Washington and Beijing. In the State of Southeast Asia Survey conducted by the ISEAS-Yusof Ishak Institute, the EU has been consistently the preferred hedge against uncertainties arising from US-China rivalry.
Europe’s appeal is also clear here, with its support for a multilateral rules-based trading order, continued support for ASEAN regional integration, reputation for consistency and reliability, and as a leader in sustainable economic development.
Crucially, greater EU engagement would not just benefit European businesses – it would also advance ASEAN’s own priorities.
These include driving forward the ASEAN Economic Community, fostering regional supply chain resilience, supporting the digital economy, and delivering on sustainability commitments. By showing up with capital, expertise and long-term commitment, Europe can position itself as a partner that empowers ASEAN’s growth story rather than merely tapping into it.
Yet, businesses think EU engagement is insufficient. Almost eight in 10 respondents of the business sentiment survey feel disadvantaged compared with competitors from Japan, Korea, China and Australia, all of which already enjoy ASEAN-wide Free Trade Agreements (FTAs).
https://www.channelnewsasia.com/commentary/asean-eu-fta-free-trade-agreement-tariffs-us-china-5396396
