EU’s Sefcovic Seeks FTAs With Malaysia, Other Asean Nations Soon

The European Union (EU) is seeking to establish free trade agreements (FTAs) with several Southeast Asian nations, including Malaysia, the Philippines, and Thailand, in the near future. According to Maros Sefcovic, the EU's trade chief, the bloc aims to reach these agreements before the 50th anniversary of the EU's relations with the Association of Southeast Asian Nations (ASEAN) in 2027. The move is part of the EU's broader efforts to strengthen its economic ties with the Asia-Pacific region. By securing FTAs with these ASEAN nations, the EU hopes to expand its market access and enhance trade opportunities in the growing Southeast Asian market. The potential agreements could cover a wide range of areas, such as tariff reductions, regulatory cooperation, and investment protection. The announcement underscores the EU's strategic focus on diversifying its trade partnerships and reducing its economic dependence on traditional markets, particularly in the face of ongoing global trade tensions and uncertainties.