25 September 2025, Kuala Lumpur, Malaysia
JOINT MEDIA STATEMENT
KUALA LUMPUR, Sept 25 (Bernama) -- The Twenty-first ASEAN Economic Ministers (AEM) - EU Trade Commissioner Consultation was held on 25 September 2025. The Consultation was co-chaired by H.E. Tengku Datuk Seri Utama Zafrul Aziz, Minister of Investment, Trade and Industry of Malaysia, and H.E. Maroš Šefčovič, EU Commissioner for Trade and Economic Security, Interinstitutional Relations and Transparency. The Meeting also welcomed the participation of H.E. Filipus Nino Pereira, Minister of Commerce and Industry of the Democratic Republic of Timor-Leste, who joined the Consultation as an observer.
The Meeting noted that based on ASEAN’s preliminary statistics, two-way merchandise trade between ASEAN and the EU stood at USD 292.8 billion in 2024, whilst foreign direct investment (FDI) inflow from the EU to ASEAN was recorded at USD 20 billion in the same year. These figures placed the EU as ASEAN’s third largest trading partner and second largest source of foreign direct investment last year.
The Meeting exchanged views on regional and global economic challenges including the current global trade tensions which have caused uncertainty, impacted supply chain resilience, and brought significant challenges to businesses, especially micro, small, and medium enterprises (MSMEs), as well as to global trade dynamics. Against this backdrop, the Meeting reaffirmed both sides’ commitment to upholding a predictable, transparent, free, fair, inclusive, sustainable, and rules-based multilateral trading system with the World Trade Organisation (WTO) at its core. The Meeting underscored the importance of fostering closer economic cooperation between ASEAN and the EU, particularly in the areas of digitalisation and sustainability, to mitigate the impacts of the global economic challenges and strengthen the resilience of supply chains.
The Meeting welcomed the ongoing implementation of the ASEAN-EU Trade and Investment Work Programme (TIWP) 2024-2025, which served as a key framework for guiding and deepening economic cooperation between ASEAN and the EU. The Meeting acknowledged the importance of the TIWP in advancing shared priorities such as digital trade, green technologies and green services, and supply chain resilience. Recognising the importance of continuity and value of the long-term collaboration, the Meeting endorsed the ASEAN-EU TIWP 2026-2027, which will build on the achievements of the current Work Programme and further strengthen the strategic economic partnership between ASEAN and the EU.
The Meeting welcomed the EU-ASEAN Sustainable Connectivity Package -Trade (SCOPE Trade) and the Technical Assistance Facility to the Green Team Europe Initiative (TAF-GTEI), which serve as complementary vehicles for sustainable connectivity, infrastructure and green transformation in the region supported by the Global Gateway. The Meeting noted that SCOPE Trade’s targeted capacity building and regulatory support, together with the TAF-GTEI which mobilise the EU’s expertise on green and circular economy, will help catalyse economic activity, accelerate ASEAN’s decarbonisation efforts, and unlock new opportunities for MSMEs and key industries.
The Meeting noted the report of the ASEAN-EU Joint Working Group on Trade and Investment (JWG-TI) and welcomed the recommendations to strengthen practical cooperation, including capacity-building initiatives and knowledge exchange in areas of digital trade, green transition and green technologies, and supply chain resilience, which are key areas that would drive regional economic integration and reinforce the ASEAN-EU economic partnership for mutual prosperity. In that context, the Meeting welcomed in particular the results of the joint study on digital trade, which show the potential for future cooperation between ASEAN and the EU in this field and tasked the JWG-TI to consider the recommendations of the study and explore possible ways to follow-up on the recommendations, including considering a set of non-binding ASEAN-EU Digital Trade Principles.
The Meeting acknowledged the critical role that the WTO has played in fostering global economic growth and underscored the importance of working together to advance necessary WTO reform to ensure its continued relevance and effectiveness in addressing current and emerging global trade challenges. In this regard, the Meeting expressed its readiness to collaborate constructively in support of a reformed and revitalised WTO that better serves the interests of all members. The Meeting also expressed its determination to work closely together to deliver meaningful, outcomes at the 14th WTO Ministerial Conference (MC14), to be held in Cameroon in March 2026.
The Meeting appreciated the insights shared through the 2025 EU-ASEAN Business Sentiment Survey, which reaffirmed ASEAN as a region of strong economic opportunity. The Meeting also noted the recommendations of the EU-ASEAN Business Council (EU-ABC) for further enhancement in the areas of ASEAN trade and digital agreements, trade facilitative measures, alignment of standards, intellectual property rights protective measures, connectivity, investment opportunities, food nutrition, circular economy, and development of ASEAN Power Grid. The Meeting acknowledged the importance of public-private engagement and expressed appreciation for the EU-ASEAN Business Council’s continuous contribution to strengthening trade and investment ties between ASEAN and the EU.
The Meeting noted Timor-Leste's continued commitment to the Roadmap for Timor-Leste’s Full Membership in ASEAN and looked forward to the full and effective fulfilment of all the criteria outlined in the Roadmap. The Meeting reaffirmed its support for Timor-Leste’s integration efforts into ASEAN and expressed readiness to provide continued capacity building and technical assistance to facilitate its effective integration into the mainstream of ASEAN-EU economic relations.
SOURCE: Delegation of the European Union to Malaysia
FOR MORE INFORMATION, PLEASE CONTACT:
Name: Ms Fatimah Zainal
Press and Information Officer
Delegation of the European Union to Malaysia
Tel: +6012 504 3301
Email: fatimah.zainal@eeas.europa.eu
--BERNAMA
