For the last decade, Free Trade Agreements (FTAs) have mostly been ratified bilaterally between the EU and countries in the Asia-Pacific. While bilateral FTAs allow mutual trade concessions between two countries, they offer limited opportunities for market expansion on a regional level.
Against this backdrop, the Singaporean-German Chamber of Industry and Commerce (SGC) has published a position paper reiterating the pressing need to resume negotiations of a region-to-region EU-ASEAN agreement.
The position paper was based on findings from a recent survey conducted with 169 member companies from German Chambers across the ASEAN region. More than half of the respondents viewed an EU-ASEAN FTA as a very important driver for business and economic growth.
Download the position paper below to read the results.