ASEAN Economic Community Blueprint 2025 envisions regional economic integration that would support sustainable economic growth and resilience. Increased trade facilitation, the advancement of trade and investment liberalisation agenda as well as streamlined and harmonised capital market regulatory frameworks and platforms are key to achieving the vision.
In 2021, the UK was formally welcomed as an ASEAN Dialogue Partner. The partnership, which is the first ASEAN has agreed in 25 years, will lead to closer cooperation between the UK and the region on a range of issues including on trade and investment. This year will be the year of enhancing delivery of our Dialogue Partnership, especially with the establishment of the UK-ASEAN Economic Integration Programme. The programme, worth up to £25 million to be delivered over the next four years, will deliver high impact activities to support the ASEAN economic integration objectives, by leveraging expertise UK institutions to support ASEAN member states (AMS) implement ASEAN initiatives that will reduce poverty in the region and in particular support women’s economic empowerment and small businesses.
The UK-ASEAN Economic Integration Programme aims to reduce barriers to development in ASEAN Member States (AMS) and for the overall ASEAN Economic Community, to increase prosperity and provide the foundation for more inclusive economic development that benefits the poorest. The programme will support reforms covering regulatory reform, financial services, and trade through technical assistance, capacity building and knowledge-transfer partnerships. It will look to harness the potential of digitalisation in ASEAN.
The programme will be delivered in all ten ASEAN countries, including Brunei and Singapore plus Timor Leste. The programme focus is covering three pillars support reforms through regulatory reform, open trade and financial services.
