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Association of South East Asian Nations (ASEAN)

Association of South East Asian Nations (ASEAN)

The final negotiations for a Free Trade Agreement between Singapore and the EU were completed in December 2012, with the initialling of the agreement taking place on 20 September 2013.

The EU is negotiating Free Trade Agreements with Malaysia, Vietnam and Thailand.

The EU remains open to start negotiations with other partners in the region and hopes one day to complete these agreements with a region-to-regional trade agreement.

Trade picture

ASEAN countries:

ASEAN as a whole represents the EU's 3rd largest trading partner outside Europe (after the US and China) with more than €235 billion of trade in goods and services in 2012.

The EU is ASEAN 3rd largest trading partner after China and Japan, accounting for around 13% of ASEAN trade.

The EU is by far the largest investor in ASEAN countries. EU companies have invested an average €13.6 billion annually in the region (2005-2012).

The EU's main exports to ASEAN are chemical products, machinery and transport equipment. The main imports from ASEAN to the EU are machinery and transport equipment, agricultural products as well as textiles and clothing.

EU-ASEAN (Association Of South-East Asian Nations) "trade in goods" statistics

Trade in goods 2011-2013, € billions
Year EU imports EU exports Balance
2011 94.2 69.2 -25.0
2012 99.1 81.6 -17.5
2013 96.8 81.8 -15.0

EU-ASEAN (Association Of South-East Asian Nations) "trade in services" statistics

Trade in services 2010-2012, € billions
Year EU imports EU exports Balance
2010 20.7 24.7 3.9
2011 23.7 28.1 4.4
2012 25.3 29.6 4.3

Foreign direct investment

Foreign direct investment 2012, € billions
Year Inward stocks Outward stocks Balance
2012 88.7 190.4 101.7

More statistics on ASEAN

EU and the ASEAN

Besides the trade negotiations with individual ASEAN members, the EU cooperates closely with the ASEAN region as a whole. Cooperation is maintained through:

  • an EU-ASEAN Dialogue which includes discussions on trade and investment issues at ministerial and senior economic officials levels.
  • the EU and the ASEAN Secretariat conduct seminars on topics such as regional economic integration, liberalisation of services, technical barriers to trade and trade facilitation.

Trading with ASEAN