Position Paper
Why German Businesses Support an EU-ASEAN FTA
Today companies face many challenges: continuous geopolitical tensions, inflationary pressures, supply chain disruptions, and increasing trade barriers. It is against this backdrop that we are very pleased to share the potential a future free trade agreement (FTA) between the European Union (EU) and the Association of Southeast Asian Nations (ASEAN) could have, to build relationships that will shape our future.
An EU-ASEAN FTA would be a beacon of opportunity, promising improved economic integration, strengthened supply chains, and increased market access for businesses in both regions.
The negotiations for an EU-ASEAN FTA commenced in 2007 but were paused in 2009. While both parties agreed to re-initiate formal talks in 2017, progress has been limited since then.
This position paper sheds light on the significance of an EU-ASEAN FTA and presents a compelling case for resuming the negotiations.
Noteworthy in this paper are the results from the survey conducted with German businesses across the ASEAN region, where an impressive 85 percent of German companies expressed the need for an EU-ASEAN FTA. You can read these findings in Chapter 4 of this paper.
The EU-ASEAN FTA can provide a unique opportunity to integrate sustainable practices, promote responsible business conduct, and uplift communities in both regions.
We invite all stakeholders to join hands and embrace the possibilities that an EU-ASEAN FTA could present.
Together, let us forge ties that transcend borders, foster innovation, and shape a resilient future for our businesses, economies, and people.
Shirley Qi, President, SGC and Dr Tim Philippi Executive Director, SGC