Category: ASEAN Knowledge Sharing

In 2019, the EU ranked as ASEAN’s third-largest trading partner, following China and the United States, with a total trade volume of US$ 280.6 billion, constituting 10% of ASEAN’s total trade. Since 1998, ASEAN consistently maintained a trade surplus with the EU, peaking at US$ 54.6 billion in 2017. Additionally, the EU stood as the third-largest source of Foreign Direct Investment (FDI) in ASEAN in 2019, with FDI inflows from the EU totaling US$ 16.2 billion, representing 10.1% of ASEAN’s total FDI.

What started off as a regional cooperation back in 1967, is now an intergovernmental association with the world’s largest free trade agreement. This intergovernmental organization aforementioned is known as ASEAN.

Based on Article 31 of the ASEAN Charter stated the responsibilities of the Member State holding the Chairmanship of ASEAN.