ASEAN-EU summit to tackle trade, investment

More than 200 government and business leaders from ASEAN and Europe will gather in Manila next week as trade negotiations and growing investor interest put stronger economic ties between the two regions in focus.

The 12th ASEAN-EU Business Summit will be held on 22 September on the sidelines of the ASEAN Economic Ministers’ Meeting, bringing together policymakers, business executives and development institutions to discuss investment opportunities and economic cooperation.

The summit comes as three Southeast Asian economies negotiate bilateral free trade agreements with the European Union, while European companies continue to identify ASEAN as an attractive destination for investment.

The latest sentiment survey by the EU-ASEAN Business Council showed that 78 percent of respondents expect trade and investment in ASEAN to increase over the next five years. Among companies considering supply chain shifts, 67 percent identified ASEAN as a potential destination.

EU-ASEAN Business Council Executive Director Chris Humphrey said European companies need predictable and transparent trading conditions to make longer-term commitments.

“European companies come to this region for its growth, and they stay for its potential. What helps them commit further is straightforward: a predictable, transparent and investor-friendly trading environment,” Humphrey said.

The summit will focus on four areas: clean energy, financial inclusion, artificial intelligence and digital connectivity, and health and nutrition.

Philippine Energy Secretary Sharon Garin and Budget and Management Secretary Kim Robert De Leon are among the speakers, alongside officials from Indonesia and Malaysia.

European Commission Director-General for Trade and Economic Security Ditte Juul Jørgensen and ASEAN Deputy Secretary-General Satvinder Singh will also join discussions on regional cooperation.

European Chamber of Commerce of the Philippines (ECCP) President Diana Edralin said regulatory predictability and a skilled workforce remain important to attracting long-term investments.