Bilateral EU trade deals could lay groundwork for ASEAN-wide pact

Deputy Prime Minister Gan Kim Yong has suggested that a series of bilateral free trade agreements between European countries and ASEAN nations could serve as stepping stones toward a more expansive regional trade arrangement.

Gan's remarks indicate that while negotiating a single agreement encompassing all 10 ASEAN members and the European Union presents significant challenges, progress through individual deals may accelerate momentum for a comprehensive framework. The bilateral approach would allow participating countries to establish common trade standards and build institutional experience that could be leveraged in broader negotiations.

The European business community has indicated its readiness to support an ASEAN-wide trade pact by 2027, marking the 50th anniversary of formal diplomatic relations between the EU and the Southeast Asian bloc. This timeline suggests business leaders view the milestone year as a natural target for concluding a landmark trade agreement.

The push for deeper trade ties between Europe and ASEAN comes as both regions seek to strengthen economic partnerships and diversify supply chains. A comprehensive regional trade deal would represent a significant achievement in EU-ASEAN relations, potentially opening substantial market opportunities for businesses on both sides and deepening economic integration across Southeast Asia.