European Business Confidence In ASEAN Running High, Says EU-ABC

KUALA LUMPUR, Sept 16 (Bernama) -- European business confidence in ASEAN is running high, with 78 per cent of survey respondents expecting trade and investment in the grouping to increase over the next five years.

The European Union (EU)-ASEAN Business Council (EU-ABC), in a statement today, said that in its latest sentiment survey, among those weighing supply chain shifts, 67 per cent identified ASEAN as a destination, placing it far ahead of China and South Asia.

Its executive director Chris Humphrey said European companies come to the region for its growth, and they stay for its potential, while what helps them commit further is straightforward -- a predictable, transparent and investor-friendly trading environment.

“Three trade negotiations are live at the moment. We are hopeful they will result in high-quality free trade agreements (FTAs) that deliver practical commercial outcomes to both European and Southeast Asian companies, such as increased market access, fewer regulatory barriers, clearer rules and greater customs efficiency,” he added.

Currently, the EU is actively negotiating bilateral FTAs with Malaysia, the Philippines and Thailand.

Humphrey said the 12th ASEAN-EU Business Summit, to be held in Manila, the Philippines, next Tuesday, would be the right platform for open dialogue between policymakers and the business community and a tangible opportunity for public-private collaboration.

The summit is being held in the closing months of the Philippines' ASEAN Chairmanship, which has placed practical cooperation at the centre of the regional agenda.

Discussions will focus on four areas critical to ASEAN's long-term growth -- the energy transition, financial inclusion, digital connectivity and artificial intelligence transformation, as well as health and nutrition.

More than 200 representatives from government, business, development institutions and the diplomatic community are expected to attend the summit, jointly organised by the EU-ABC and the European Chamber of Commerce of the Philippines.

-- BERNAMA