According to Singapore Prime Minister Lee Hsien Loong the EU and ASEAN have agreed to reignite the process of initiating a Free Trade Agreement (FTA) between them.
As the future ASEAN coordinator for ASEAN-EU relations, Mr Lee went on to say that Singapore hopes to create a framework to identify areas with potential to work out deals.
France invites a country to participate in its National Day Parade in Paris on the 14th of July also known as Bastille Day. This year, Mr Lee was the guest honour and so, the first Singaporean leader to receive the distinction. In 2017, President Emmanuel Macron invited US President Trump, who has expressed hopes to hold a similar parade in the US.
A trade deal with ASEAN would connect the EU to the world’s 7th largest market and one with stronger consumer and middle-class expansion. This is especially evident in the Philippines and Vietnam, which are amongst the best-performing economies in the world.