EU-ASEAN Business Council to host 10th ASEAN-EU Business Summit in Brussels

The EU-ASEAN Business Council will be celebrating the 45th anniversary of the dialogue partnership between the European Union and ASEAN by hosting the 10th ASEAN-EU Business Summit.

The Summit, to be held on 13 December 2022 in Brussels in Belgium, will follow the theme “Deepening ASEAN-EU Trade: Sustainable Development For All.” It is slated to be held on the sidelines of the official bilateral summit between leaders of both regions.

The forum aims to strengthen business and economic ties between the EU and ASEAN. The cross-regional discussion is slated to feature president of the European Council Charles Michel, president of the Republic of Indonesia Joko Widodo, who will chair ASEAN in 2023, and Secretary of the Department of Trade and Industry Alfredo E. Pascual, as speakers.

According to the 2022 EU-ASEAN Business Sentiment Survey, 63 percent of European businesses see ASEAN as the region of best economic opportunity over the next five years. This underscores the growing importance of engaging Southeast Asia as a strategic partner for bilateral trade and regional partnerships. A further 97 percent of respondents believe that the EU should accelerate the negotiation of trade deals with ASEAN, highlighting that industry players also view Southeast Asia as a promising target for economic expansion.

“With ASEAN on track to become the fourth-largest economy globally, it is imperative that EU businesses do not risk playing catch up. At the same time, ASEAN cannot fall prey to complacency. The EU-ABC is thus committed to maintaining a clear strategy for both regions to strengthen relations, overcome challenges, and reap the potential benefits of their strategic partnerships moving forward,” said Martin Hayes, chairman of the EU-ASEAN Business Council.

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