EU and Asean leaders keen on more cooperation in digital and green economies: PM Lee

ASEAN and European Union leaders have much interest in working more closely together, said Prime Minister Lee Hsien Loong.

The two regional groupings have committed to doing so, including in the digital and green economies, following the conclusion of the one-day Asean-EU Commemorative Summit held in Brussels on Wednesday.

Speaking to Singapore media at the end of his trip to Europe, PM Lee said the two blocs have made strides this year, citing the Asean-EU Comprehensive Air Transport Agreement – the world’s first bloc-to-bloc air transport agreement signed in Bali in October – as a significant achievement.’

The agreement had been in the works for 10 years, with Singapore as the negotiator for the Asean side, he said.

“We’re very happy that this has happened, because it will mean more air rights, more connectivity, more opportunities for businessmen, for tourists to travel, and therefore, tighter links between the two sides,” he added.

With the agreement, airlines from the 37 member countries within Asean and the EU will be able to fly any number of services between both regions.

They will also be able to fly up to 14 weekly passenger services, and any number of cargo services via and beyond to any third country.

PM Lee also noted the progress made between Singapore and the EU, in particular, the EU-Singapore Digital Partnership that was announced on Wednesday following his meeting with European Commission president Ursula von der Leyen. The pact is expected to be formally signed in early 2023.

The two leaders had met on the sidelines of the summit, held to mark 45 years of dialogue between the two regional groupings.

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Earlier in the week, PM Lee was in the northern German port city of Kiel, where he launched two Republic of Singapore Navy submarines.

He said on Wednesday that in addition to this latest pact with Europe, a big partner, Singapore has agreements in the digital economy space with other countries such as Australia, New Zealand and Chile.

Digital trade and the green economy will form the next wave of trade agreements between countries, he added.

Singapore has free trade agreements with many countries in traditional areas of trade, but is now working on partnerships in these two new areas, he noted.

Singapore will be able to attract IT-related businesses to the Republic through the new digital partnership, giving it a footprint that covers Europe. This in turn means more opportunities for Singapore, said PM Lee.

The EU is also keen to cooperate on aspects of the green economy, he added, as it aggressively pursues carbon reduction in order to get to net-zero emissions.

Continued cooperation in the areas of digital and green economies was also among the key points in the joint leaders’ statement issued at the end of the Asean-EU summit on Wednesday.

The statement said both blocs will promote sustainable and inclusive trade and investment, including in important areas such as climate change, water security, marine debris, green and circular economy, renewable energy and digital transitions.

It also said Asean encourages the EU’s cooperation in programmes aimed at developing, empowering and supporting micro and small- to medium-sized enterprises, which are the backbone of the Asean economy.

Both blocs also committed to promoting cooperation in areas of mutual interest such as the digital economy, green technologies and green services, and supply chain resilience, while reaffirming a future EU-Asean free trade agreement as a common long-term objective. THE STRAITS TIMES