EU increases assistance to Asean to 170 million euros

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KUALA LUMPUR: The European Union (EU) has increased its assistance to Asean to 170 million euros from 70 million euros, over the next seven years.

According to a joint statement of the 13th Asean Economic Ministers-EU Trade Commissioner Consultations here yesterday, the amount also includes an 86 million euro envelope for connectivity through sustainable and inclusive economic integration and trade.

This was announced by EU’s Trade Commissioner Cecilia Malmstrom during the consultations, held in conjunction with the 26th Asean Summit.

The last consultation was in 2013.

The consultations were co-chaired by Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed and Malmstrom.

To further deepen economic ties and enhance the trade and investment relationship between Asean and the EU, the Ministers and the EU Trade Commissioner endorsed the Asean-EU trade and investment work programme for 2015-2016.

This programme is built upon the successful initiatives under the Asean-EU trade and investment work programme for 2013-2014, in accordance with the Bandar Seri Begawan Plan of Action to strengthen the Asean-EU Enhanced Partnership 2013-2017.

“They welcomed the inputs from the private sector. The Ministers and the EU Trade Commissioner welcomed the new emphasis given to the organisation of experts’ meetings on areas of mutual interest,” it said. — Bernama