Business leaders with the EU-ASEAN Business Council (EU-ABC), during high-level meetings over a three-day visit (23 March to 26 March) in Brussels, are calling on the European Commission to step up its engagement with ASEAN and deepen cooperation for European businesses in the region.

The EU-ABC’s visit comes amid shifting global trade dynamics and intensifying competition for investments in Southeast Asia, and ahead of the 50th anniversary of EU-ASEAN relations in 2027.

Formally recognized by both the ASEAN Secretariat and European Commission, the Council serves as a key representative for European businesses operating in the ASEAN region.

In Executives from over 20 European companies raised key issues surrounding EU-ASEAN trade, stressing the need for stronger, sustained high-level engagement from the Commission with ASEAN leaders to reflect ASEAN’s growing strategic importance to the EU.

Key priorities raised include further progress on EU trade agreements with ASEAN member states, alongside more practical cooperation in strategic sectors such as digital trade, green finance, energy transition, transport and sustainability.

The business leaders said this would strengthen European competitiveness in the region, particularly as other major partners deepen their economic engagement with ASEAN.

Overshadowed by other dialogue partners

EU-ABC Chairman Jens Ruebbert said: “The EU is one of ASEAN’s largest investors, but it is often overshadowed by other dialogue partners whose leaders show a much stronger presence at key ASEAN meetings. This gap is keenly felt by European businesses struggling to compete with major players in the region.”

Added Ruebbert, “If the EU wants to secure a permanent seat at the table — which we know it does — then its leaders must show up. There is so much the EU and ASEAN can offer each other, and that potential is waiting to be unlocked.”

The businessmen also pressed for momentum on a region-to-region free trade agreement (FTA) between the EU and ASEAN, highlighting the upcoming 50th anniversary of EU-ASEAN relations as a prime opportunity to launch negotiations.

At a disadvantage

European businesses said they were at a disadvantage in the absence of region-to-region agreements compared to competitors including China, Japan, and India — all of which already have FTAs with ASEAN.

Said EU-ABC Executive Director Chris Humphrey said, “The 50th anniversary would be the perfect stage for a major announcement to elevate EU-ASEAN relations. We have long pushed for an EU-ASEAN FTA, and it would be an incredible milestone to see negotiations begin next year.”

In the meantime, the EU-ABC called for the early signing and ratification of the EU-Indonesia Comprehensive Economic Partnership Agreement (CEPA), as well as the speedy conclusion of FTA negotiations with the Philippines, Malaysia and Thailand.

Beyond FTAs, business leaders highlighted the need to strengthen practical cooperation with ASEAN.

Keen to contribute to ASEAN’s development priorities

They said European businesses are keen to contribute to ASEAN’s development priorities, including the ASEAN Power Grid and sustainable transition projects, and called for further support from EU institutions in these areas. This included funding from the European Investment Bank, Global Gateway initiatives, and capacity-building programmes.

“The EU has made great progress on negotiating several trade agreements with ASEAN member states, but its long-term strategy must go beyond FTAs. European businesses are looking to invest in practical cooperation that can deliver tangible benefits to ASEAN economies and communities,” said Mr Humphrey.

Over the three-day visit, the EU-ABC held meetings with the Commissioner for Energy and Housing Dan Jørgensen and Commissioner for Health and Animal Welfare Olivér Várhelyi; and the Cabinet members of EVP Stéphane Séjourné, Commissioner Wopke Hoekstra, and Commissioner Jessika Roswall;

Officials from DG TAXUD, DG AGRI, DG FISMA, DG TRADE, DG JUST, DG ENER, DG CNECT, DG MOVE, DG INTPA; Mr Erik Kurzweil, Managing Director for Asia and the Pacific, European External Action Service; Advisors to European Council President António Costa; and European Parliament member Wouter Beke.

Reinforced strong interest in ASEAN

Ruebbert said, “This visit has reinforced the strong interest in ASEAN across Brussels. The challenge now is to translate that into sustained engagement and practical cooperation that delivers real value for both regions.”