EU should engage Asean more closely due to vast market opportunity, says MITI deputy minister

EU should engage Asean more closely due to vast market opportunity, says MITI deputy minister

16 Dec 2022

The European Union (EU), as one of the major economic blocs, should engage Asean more closely due to its vast market opportunity, said Deputy International Trade and Industry Minister Liew Chin Tong.

He suggested that gaps in capacities and resources between the two blocs could effectively be narrowed through various support such as targeted funding, technology transfer as well as capacity building programmes.

“Both regions should engage more closely in several high-value-added areas for the mutual benefit of both Asean and the EU,” he said during a fireside chat session at the 10th Asean-EU Business Summit in Belgium earlier this week.

Liew also stressed on the importance of both regions to support each other on building a middle-class society in Asean, according to a statement issued by the International Trade and Industry Ministry (Miti) today.

The fireside chat session was held with European Commission executive vice-president and trade commissioner Valdis Dombrovskis and moderated by EU-Asean Business Council executive board member Noel Clehane.

The business summit, which gathered prominent political leaders, business leaders and government officials from both the EU and Asean, was held as a sideline to the 45th Asean-EU Commemorative Summit.

Liew was accompanied by senior officials from Miti as well as its representatives in Brussels.

Souce: Bernama