BRUSSELS - President Ferdinand Marcos Jr on Tuesday called on the European Union and the Association of Southeast Asian Nations to continue to strengthen trade and investment endeavors, as both regional blocs work to enhance economic integration.

Marcos made the statement as he closed the 10th ASEAN-EU Business Summit held in Brussels Belgium, which the Philippine leader hailed for providing “a platform for the much-needed dialogue between EU and ASEAN, after the re-opening of borders due to the COVID-19 pandemic.”

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“Building on the theme 'Deepening EU–ASEAN Trade: Sustainable Development for All,' the discussions undertaken during the day will not only bring new impetus for both sides to bolster a sustainable trade and investment while opening ways to fast track the implementation of the EU’s Indo-Pacific Strategy,” the Philippine President said.

In his speech, the President said Southeast Asian countries continue to recognize the European bloc as a historically important trade and investment partner to ASEAN.

“Thus, while the ASEAN-EU FTA remains a common long-term objective, economic cooperation initiatives will be prioritized on areas of mutual interest in order to bridge the gap and realize this long-term objective,” he said.

Marcos noted that the ASEAN will “continue to dialogue with the EU on ongoing economic competitiveness and competition initiatives.”

COLLABORATION WITH ASEAN PRIVATE SECTOR

Meanwhile, in his remarks following a C-Suite luncheon, Marcos highlighted the growing need for governments to collaborate with private institutions especially as Southeast nations recover from the COVID-19 pandemic while facing new challenges from recent geopolitical tensions, supply chain problems, and rising food prices.

He also noted that the ASEAN has “increased its presence in the global stage” through efforts on regional economic integration, supply chain resilience, and joint responses to climate change.

“The entry into force of the Regional Comprehensive Economic Partnership or RCEP, the ongoing review of existing trade agreements, and ASEAN’s initiatives to facilitate trade of essential goods demonstrates the region’s push to maintain an open, free, and fair trade,” he said.

DFA Office of ASEAN Affairs Assistant Secretary Daniel Espiritu said the President’s trip in Brussels will be until Wednesday.

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