ASEAN, EU Agree Further Cooperation

The Association of Southeast Asian Nations (ASEAN) and the European Union (EU) marked the start of a new phase in their economic cooperation, with the latter agreeing to continue its help in realising the ASEAN single market.

The ASEAN-EU Programme for Regional Integration Support (APRIS) has directly supported ASEAN in the implementation of its blueprint for the ASEAN Economic Community, in particular helping with practical steps for establishing the ASEAN single market and production base.

A recent seminar in Jakarta represented the conclusion of the APRIS Phase II. APRIS Phase I and Phase II have been operating for the last eight years with EU grant support of EUR10m (USD13.8m).

Over the four-year period (2006-2010), APRIS II focused its support to ASEAN on developing key agreements and implementation mechanisms leading to trade facilitation and removal of non-tariff barriers between the ASEAN members.

A new phase of ASEAN-EU economic cooperation through an ASEAN Economic Integration Support Programme was unveiled at the seminar. This next phase of economic cooperation starts now with expanded targets and hence a larger budget of EUR15m. The new funds will directly help ASEAN realise its targets for a single market by 2015.

“Over the last eight years, the APRIS support from the EU has been successful and helpful to ASEAN. The new phase of support opens a new and exciting chapter for economic cooperation with the EU. I look forward to working in closer partnership with the EU in advancing economic integration,” said the Secretary-General of ASEAN, Dr Surin Pitsuwan, as he thanked the EU for their support of economic integration in ASEAN.

He added that “regional economic integration will bring multi-fold gains for the citizens of ASEAN – peoples in ASEAN will benefit from cheaper goods, better job prospects and improved living standards, and businesses from lower taxes and a more competitive environment. The EU’s experiences in integrating their economies are certainly good pointers for ASEAN and will help us realise these gains faster.”

During the event, EU Ambassador Julian Wilson said: "The EU and ASEAN are the two most ambitious regional integration projects in the world. As ASEAN's largest source of foreign investment and major trading partner, the EU and ASEAN have and always will invest first and foremost in our economic and people-to-people alliance.”

"The EU is honoured that ASEAN views the last eight years' of APRIS cooperation as a success and has invited the EU to continue helping in realizing its single market, a cornerstone of the ASEAN vision,” he concluded.

March 2^nd, 2011

Source: tax-news.com