EU-ASEAN

This book examines development issues for members of the Association of Southeast Asian Nations and concludes that they have the potential to reach by 2030 the average quality of life enjoyed today in advanced economies. This book investigates long-term development issues for members of the Association of Southeast Asian Nations (ASEAN). It finds that with a proper policy mix including domestic structural reforms and bold initiatives for regional integration, by 2030 ASEAN has the potential to reach the average quality of life enjoyed today in advanced economies and fulfill its aspirations to become a resilient, inclusive, competitive, and harmonious (RICH) region.Key challenges moving forward are to enhance macroeconomic and financial stability, support equitable growth, promote competitiveness and innovation, and protect the environment. Overcoming these challenges to build a truly borderless economic region implies eliminating remaining barriers to the flow of goods, services, and production factors, and strengthening competitiveness and the institutional framework, while updating some governing principles. But ASEAN should not copy the European Union. It must maintain its flexibility and pragmatism, without creating a fat regional bureaucracy.

Marking the 40th anniversary of the start of their dialogue ASEAN and the EU have agreed to work towards establishing a strategic partnership. While trade has always been the cornerstone of the relationship - ASEAN is the EU’s third largest trade partner - the EU’s ambition to expand its role as a global actor demand increased engagement. Both sides face common challenges that can only be addressed through joint responses that involve all stakeholders. To be strategic the partnership must embrace all aspects, from trade to energy, from climate change to security issues, from human rights to sustainable development. Deepening and enhancing relations between one of the most dynamic region in the world and the largest and most affluent market will bring important benefits to both European and ASEAN citizens. The last years have seen an increase in contacts but the many challenges faced today by the EU, internally and in its close neighbourhood, risk to require all attention and put the EU-ASEAN relations at risk. Finally the study argues that strengthening the parliamentary dimension of the relationship would, besides supporting representative democracy in Southeast Asia, contribute to maintaining the momentum launched in 2012.