Joint Media Statement of the Twentieth AEM-EU Trade Commissioner Consultation

AEM and EU Agree on Common Objectives for Cooperation

The 20th EU-Association of Southeast Asian Nations (ASEAN) Economic Ministers (AEM)-EU Trade Commissioner Consultation was held virtually on 20 September 2022, under the co-chairmanship of H.E. Dato Seri Setia Dr. Awang Haji Mohd Amin Liew bin Abdullah, Second Minister of Finance and Economy of Brunei Darussalam, and H.E. Mr. Valdis Dombrovskis, Executive Vice President and Commissioner for Trade of the European Commission.

The AEM and EU reiterated their shared commitment to open, resilient, sustainable, and rules-based multilateral trading system with the World Trade Organization (WTO) at its core. Both sides agreed to work together to strengthen the WTO, including through ongoing discussions on WTO reform.

Enhanced Cooperation on Trade and Investment

The AEM and EU welcomed the progress made in the negotiations for the EU-ASEAN Free Trade Agreement (FTA) and reaffirmed their commitment to conclude negotiations for a comprehensive, high-quality and mutually beneficial FTA as soon as possible.

Both sides also discussed the importance of enhancing cooperation on investment, including through the implementation of the EU-ASEAN Comprehensive Air Transport Agreement (CATA), and the EU-ASEAN Investment Agreement (IA).

Cooperation on Regional and Global Issues

The AEM and EU exchanged views on regional and global issues, including the COVID-19 pandemic, the war in Ukraine, and the challenges posed by climate change and energy security.

Both sides agreed on the need to strengthen cooperation to address these challenges and promote sustainable and inclusive growth.

Conclusion

The 20th AEM-EU Trade Commissioner Consultation was a successful and productive meeting that further strengthened the close partnership between ASEAN and the EU.

Both sides remain committed to working together to promote trade, investment, and sustainable development in the region and beyond.