Posted on 30 Aug 2022
As EU-Russia relations deteriorated and keeping a distance from China, the EU will strengthen ties with ASEAN in terms of economic and security guarantees in order to draw ASEAN to the EU’s side. The two parties will hold their first summit in December, which will advocate for expanded trade and infrastructure support.
The EU and ASEAN have held summits before, but the attendance was limited to the executive body of the EU. However, this time, heads of member states are expected to attend.
In terms of economy, the construction of the supply chain will be promoted. In the EU, imports of medical products and auto parts have come to a standstill in the spread of the Covid-19 epidemic. It is expected that the EU will provide infrastructure support and economic cooperation to ASEAN member states, which will promote ASEAN to become part of the supply chain of the Western camp.
If the free trade network expands, the supply chain will become diversified, which can reduce the dependence on Russia and other resource-rich countriesEU seeks to improve supply chain with ASEAN countries.
Source:Yieh
