UK to Assist ASEAN Economy Integration by Funneling GBP 25M

According to the Third ASEAN Economic Ministers (AEM)-UK Meeting, the United Kingdom and the Association of Southeast Asian Nations (ASEAN) are co-designing the new ASEAN-UK Economic Integration Programme, in which the UK government plans to spend up to £25 million to support ASEAN economic integration over the next five years.

Following its adoption last year, the meeting welcomed progress in delivering the work plan to implement the joint ministerial declaration for future economic cooperation (Work Plan). According to the meeting, a total of 26 activities across 11 priority areas involving 26 ASEAN sectoral bodies have been carried out since last year, with an additional 60 activities planned for the coming years.

UK-ASEAN trade flows in 2022 had risen by over 20 per cent since 2021 in nominal terms, demonstrating post-pandemic recovery.