Meanwhile, Malaysia announced in January that it would resume trade negotiations with the EU, with the first round held from late June to early July. Malaysia had suspended negotiations in 2015 due to disagreements over EU measures affecting palm oil producers.
The Philippines also plans to resume talks with the EU in October 2024, with a target to conclude the deal by 2027.
The EU is accelerating its diversification of trading partners and supply chains amid the US’s growing isolationism and ongoing economic security threats from China.
“We are in a turbulent period, and when economic uncertainty meets geopolitical volatility, allies like us must draw closer together,” von der Leyen said in the joint press conference on Sunday.
ASEAN aims to become the world’s fourth-largest economy by 2030, and the EU has expressed its willingness to expand cooperation with Japan and other member states through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Source: Nikkei