Asean, South Korea raise ties to highest level on 35th anniversary; free-trade area to be upgraded
Asean leaders also meet Japan’s new PM Shigeru Ishiba; Singapore suggests upgrade of comprehensive economic partnership agreement
ASEAN and South Korea have upgraded dialogue relations to a comprehensive strategic partnership, broadly understood as the highest level of relationship between the alliance and its partners.
Both parties have also agreed to work on upgrading the Asean-Korea free-trade area, which eliminates tariffs on 80 per cent of the goods traded between the bloc and Asia’s fourth-largest economy.
This was announced on Thursday (Oct 10) at the 25th Asean-Republic of Korea Summit held in the Lao capital of Vientiane. Both parties mark 35 years of dialogue relations this year.
Thus far, Asean has entered into comprehensive strategic partnerships only with Australia, China, India, Japan and the US. Dialogue relations were upgraded with Australia and China in 2021, with India and the US in 2022, and with Japan in 2023.
Singapore, as country coordinator for economic relations, will facilitate the mutually beneficial upgrade of the free-trade area, said Prime Minister Lawrence Wong in a speech on Thursday.
He reiterated the importance of the digital and green economies – a theme he brought up several times at this multilateral summit, his first since becoming prime minister earlier this May.
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On the digital front, as South Korea is a member of the Digital Economy Partnership Agreement (DEPA), it is “well-placed” to support Asean’s Digital Economy Framework Agreement, said PM Wong.
DEPA, signed by Singapore, New Zealand and Chile in June 2020, establishes collaborations in digital trade issues. South Korea became its first new member after acceding to it in May this year.
On the green economy front, PM Wong noted the abundance of opportunities in carbon credits, renewable energy and clean infrastructure.
Asean and South Korea should also work towards a more “liberal and ambitious” regional air-services agreement, he said.
He concluded by condemning North Korea’s launching of intercontinental ballistic missiles, and noted that Singapore wants to see “a peaceful and stable” Korean peninsula, with Asean-centred platforms providing a means for constructive dialogue.
South Korean President Yoon Suk-yeol attended the summit, arriving in Vientiane the day before for the third leg of his South-east Asia tour, following stops in Philippine capital Manila and Singapore.
Yoon’s rare trip to the Philippines – the first by a South Korean president since 2011 – was marked by an upgrade of bilateral ties to a strategic partnership and the signing of agreements to boost defence cooperation.
Asean-Japan relations
Asean also held a meeting with Japan, the first under Singapore’s three-year term as country coordinator for the South-east Asian bloc’s relations with Japan.
PM Wong cited a recent survey in which Japan emerged as the most trusted major power for South-east Asia’s opinion leaders.
“This is a significant finding, but it should also come as no surprise, because Japan has contributed consistently to the stability and prosperity of South-east Asia for over five decades,” he said.
Last year, Asean and Japan elevated dialogue relations to a comprehensive strategic partnership.
Both parties should upgrade the comprehensive economic partnership agreement, to reflect the growing importance of supply-chain resilience and the digital and green economies, he added.
Speaking in his national capacity, the Singapore leader noted that the digital domain is a key growth sector, and that an upgraded Asean-Japan comprehensive economic partnership should devote “significant focus” to this new area of opportunity.
Japan was represented by its new Prime Minister Shigeru Ishiba, who was sworn in last week.
Packed agenda
After lunch, the South-east Asian leaders attended an Asean+3 meeting with their peers from China, Japan and South Korea.
They also held talks with Australian Prime Minister Anthony Albanese, Indian Prime Minister Narendra Modi and Canadian Prime Minister Justin Trudeau.
The night ended with a gala dinner hosted by Lao Prime Minister Sonexay Siphandone and his wife.
Ahead of Friday’s East Asia Summit, Russian Foreign Minister Sergey Lavrov was spotted on Thursday at the National Convention Centre in Vientiane.
He spoke with Lao Foreign Minister Saleumxay Kommasith and Vietnam’s Foreign Minister Bui Thanh Son on the sidelines of the summit, said the Russian foreign ministry.
On Friday, the South-east Asian leaders will meet US Secretary of State Antony Blinken. They will also take part in the Asean-United Nations Summit and the East Asia Summit – a regional grouping comprising the 10 Asean member states, Australia, China, India, Japan, New Zealand, South Korea, Russia and the US.
The summit will then close with Laos relaying the chairmanship to Malaysia, which officially assumes the Asean chairmanship on Jan 1, 2025.
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