On 9 February 2024, Mr. Chris Humphrey, Executive Director, EU-ASEAN Business Council (EU-ABC) met with Ms. Warunee Pan-Krajang, Chargé d’affaires, to build on existing EU-ASEAN and EU-Thailand trade and investment following the 3^rd EU Indo-Pacific Ministerial Forum (IPMF) and the 24^th ASEAN-EU Ministerial Meeting (AEMM) in Brussels on 2^nd February 2024.

            Chargé d’affaires discussed how Thailand and the EU-ABC, which comprises EU investors in ASEAN, could work together to transform the outcomes and political commitment of Foreign Ministers at the said meetings into reality. This includes the ministers’ reaffirmed cooperation in security amidst the challenging geopolitical context, as well as cooperation in sustainable economic development and green economy. It also extends to cooperation in maintaining resilient supply chains, expanding and enhancing connectivity, as well as digital and energy transition under the EU’s Global Gateway Initiative. Currently, the Thailand Greenhouse Gas Management Organization thinks that it is necessary to have investment in carbon capture, storage and utilization in Thailand. EU-ABC could help the embassy identify European companies with this particular technology in EU Member countries and persuade them to consider investing in Thailand.

            In addition, both sides discussed several ways to support the role of EU-ABC in driving forward concrete EU-ASEAN and EU-Thailand economic cooperation, such as the EU-ABC’s support for (1) accelerating the conclusion of the Thailand-EU FTA by 2025 and the EU’s FTAs with other countries in the region, the sooner these FTAs are concluded, the sooner both sides benefit from the agreement; (2) a “green lane” for eco-friendly products (e.g. EV, batteries and electric appliances) as early harvest measures while Thailand-EU FTA is being negotiated;(3) the reduction of trade barriers by streamlining procedures between ASEAN and the EU including Non-Tariff Barriers; (4) the EU-ABC’s plan to organize business matching between Thai and European businesses in sectors that would lead to the green economy (e.g. EV, renewable energy and digital economy); and (5) the EU-ABC’s plan to organize a forum to compile views from European investors on investment in Thailand and ASEAN, so that all parties can plan ahead on how to enhance cooperation in 2024.

            The EU-ASEAN Business Council is the main voice for European businesses, be it in investment, trade or services in the ASEAN region. It is endorsed by the European Commission and ASEAN, and plays an important role in promoting the interests of European businesses in ASEAN, and advocating for revised policies and regulations to facilitate EU-ASEAN trade and investment. The council also serves as a platform for information exchange between its members and important players within the ASEAN region.