The European Union-Association of Southeast Asian Nations (EU-Asean) Business Council will be hosting the 10th Asean-EU Business Summit on December 13, which will feature representatives of Asean member states, including Philippines’s Department of Trade and Industry Secretary Alfredo E. Pascual.
The EU-Asean Business Council said the summit will be held in Brussels, Belgium and will follow the theme of “Deepening Asean-EU Trade: Sustainable Development For All.”
Moreover, the business council noted that it would be held on the sidelines of the official bilateral summit between leaders of both regions.
With the goal of strengthening business and economic ties between the EU and Asean, the council said the cross-regional discussion is slated to feature the Charles Michel, President of the European Council and leaders of Asean member- states such as Joko Widodo, President of Indonesia, who will chair Asean in 2023, and Secretary of the Philippines’ trade chief Pascual, as speakers.
In addition, the council said all Asean Heads of Government have been invited to the summit, while “notable” government and business leaders are also scheduled to speak at the event.
“The event aims to align business and political interests between the private and public sectors following the recent emergence of Asean as an engine of global economic growth,” the EU-Asean Business Council said in its news statement issued on Wednesday.
Meanwhile, the Business Council cited the 2022 EU-Asean Business Sentiment Survey, noting that 63 percent of European businesses see Asean as the region of “best economic opportunity” over the next five years.
The council noted that this underscores the growing importance of engaging Southeast Asia as a strategic partner for bilateral trade and regional partnerships.
Further, the survey showed that 97 percent of respondents believe that the EU should accelerate negotiation of trade deals with Asean, highlighting that industry players also view Southeast Asia as a “promising target” for economic expansion.
“With Asean on track to become the fourth-largest economy globally, it is imperative that EU businesses do not risk playing catch up. At the same time, Asean cannot fall prey to complacency,” Martin Hayes, Chairman of the EU-Asean Business Council, said.
“The EU-ABC is thus committed to maintaining a clear strategy for both regions to strengthen relations, overcome challenges, and reap the potential benefits of their strategic partnerships moving forward,” Hayes added.
The EU-Asean Business Council is the “primary voice” for European business within the Asean region. It is formally recognized by the European Commission as an entity associated with Asean.