The European Union plans to substantially increase its financing for projects and programs with the Association of Southeast Asian Nations (Asean), as it moves to further strengthen its partnership with the bloc.
This was announced during the discussion regarding the programming of the 2014-2020 cycle of financial support for the Asean under the Development Cooperation Instrument (DCI), according to a statement posted on the Asean website.
Cooperation under this instrument will focus on connectivity, which means sustainable and inclusive economic integration and trade; climate change and disaster management; and a comprehensive dialogue facility.
“This agreement would be reflected in a document, which will be presented to the next Asean-EU Ministerial Meeting (AEMM). Asean and EU also discussed other financing possibilities for regional integration, such as the Asia Investment Facility, Erasmus Mundus and the Instrument for Stability,” the statement read.
These discussions were held during the 21st meeting of the Asean-EU Joint Cooperation Committee (JCC), which was held last week in Jakarta.
The meeting underlined the importance of the partnership between both regional organizations, as “political relations intensify, impressive progress is registered in many fields, and new areas of cooperation are being developed.”
Among the developments discussed included progress achieved in the Asean integration and community-building, to which the EU affirmed its support on the centrality of Asean in the evolving regional architecture.
The Asean and the EU also exchanged views on their increasingly close trade and investment relations, underlining goals to further strengthen trade and investments ties between the two blocs.
Both sides likewise welcomed the progress made to strengthen cooperation in the areas of science, technology and research as well as civil aviation.
Significant progress was further noted in the field of information and communications technology (ICT), and cooperation on human rights, among others.
The Meeting further discussed Asean -EU cooperation on the implementation of the master plan on Asean connectivity and the possibility of establishing effective mechanisms.
A dialogue has been scheduled next month for the exchange of experiences and best practices, as well as exploration of public and private financing for connectivity.
The Master Plan on Asean Connectivity is seen to “promote economic growth, narrow development gaps, Asean integration and Community building process, enhance competitiveness of Asean, promote deeper social and cultural understanding as well as greater people mobility and connect its member states within the region and with the rest of the world.”
The Asean is composed of 10 member states, including the Philippines.