Southeast Asia, represented by the Association of Southeast Asian Nations (ASEAN), is intensifying its efforts to enhance economic cooperation with the United Kingdom and Russia. This move aims to bolster regional trade and investment ties and drive economic growth. The Trade Negotiations Department, led by Auramon Supthaweethum, recently unveiled plans to accelerate dialogue with these two global partners.
During the recent senior economic officials’ meetings, ASEAN’s representative, Duangarthit Nidhi-u-tai, participated in the 4th ASEAN-UK, 15th ASEAN-Russia, and 31st ASEAN-Europe sessions. These meetings played a crucial role in monitoring the progress of economic, trade, and investment cooperation plans. They also laid the groundwork for upcoming ministerial-level talks scheduled for August.
At the ASEAN-UK senior economic official dialogue, the focus was primarily on advancing cooperation initiatives for the period of 2022-2023. Various aspects of economic cooperation were discussed, including market access, supply chain connectivity, digital innovation, and the growth of Micro, Small, and Medium Enterprises (MSMEs). The dialogue also explored the importance of fostering public-private partnerships, financial services, and sustainable growth. The outcomes of these discussions will be presented to the ASEAN-UK economic ministers in August for review.
The ASEAN-Russia senior economic officials meeting centered around trade and investment collaboration strategies between ASEAN and Russia, as well as financial cooperation involving ASEAN and the Eurasian Economic Commission. Key highlights included preparatory reports on the digitalization of MSMEs and an upcoming e-commerce cooperation roundtable. Over the past year, several high-level policy dialogues, official meetings, and digital transformation seminars have taken place, setting the stage for fruitful collaborations. A comprehensive report on the progress made in the ASEAN-Russia cooperation plan will be delivered at the ASEAN-Russia economic ministers’ meeting in August.
Turning to the ASEAN-Europe trade commissioner’s meeting, detailed discussions were held regarding economic, trade, and investment collaboration strategies. The meeting focused on measures under the ASEAN-EU trade and investment cooperation program, with particular emphasis on the digital economy, environmentally-friendly technologies, and the establishment of sustainable and efficient supply chains. The joint working group on ASEAN-EU trade and investment played a crucial role in facilitating the exchange of information between the two regions, promoting rules and best practices. The progress made on the ASEAN-EU cooperation scheme for 2022-2023, as well as the preparation of the 2024-2025 project, will be presented for approval at the ASEAN-EU economic ministers’ meeting this month.
In addition to discussions on trade and investment, the ASEAN-EU economic dialogue also explored EU-supported projects in ASEAN. These projects aim to encourage infrastructure investment in various sectors such as energy, transport, trade, tertiary and community-level digital education, competition, and intellectual property rights. Notably, the EU-ASEAN green startup project, designed to enhance cooperation and enforce international agreements on climate, environment, and biodiversity, was also a topic of discussion during the economic cooperation dialogue.
Southeast Asia’s decision to accelerate economic cooperation talks with the United Kingdom and Russia reinforces the region’s commitment to expanding trade, investment, and sustainable growth. By actively engaging in dialogue and collaboration with these global partners, ASEAN aims to create mutually beneficial opportunities for economic development and strengthen its position on the international stage. These ongoing efforts signify a significant step towards enhancing regional integration and promoting prosperity in Southeast Asia and beyond.
