In a joint effort to bolster economic growth in the ASEAN region, the UK Mission to ASEAN and the ASEAN Secretariat unveiled the ASEAN-UK Economic Integration Programme (EIP) in Jakarta.
Launched by His Majesty’s Trade Commissioner for Asia Pacific, Martin Kent, and UK Ambassador to ASEAN, Sarah Tiffin, this initiative aims to address development barriers within ASEAN member states and the broader ASEAN Economic Community, with an investment of up to £25 million over four years.
The EIP adopts a comprehensive approach to enhance ASEAN's economic integration, targeting high-impact activities and providing technical assistance, capacity building, and knowledge-sharing partnerships to ASEAN member states. Emphasizing the transformative potential of digitalization, the programme will also focus on supporting micro, small, and medium-sized enterprises across the region.
Spanning all ten ASEAN member states and Timor-Leste, the EIP will concentrate on three key areas:
Supporting regulatory reform to facilitate trade and economic activity.
Promoting open trade to address barriers within ASEAN and enhance global trade, including with the UK.
Developing financial services to modernize and strengthen financial systems, expanding access to finance for citizens and businesses.
UK Ambassador to ASEAN, Sarah Tiffin, hailed the programme as a testament to the enduring partnership between the UK and ASEAN, underscoring the commitment to reducing poverty and fostering inclusive economic development in the region.
His Majesty’s Trade Commissioner for Asia Pacific, Martin Kent, highlighted the programme's focus on harnessing opportunities from the digital economy, promoting women's economic empowerment, and nurturing small business development. Kent expressed optimism about leveraging UK expertise in regulatory reform, financial services, and trade policy for mutual prosperity.
Secretary General of ASEAN, Dr. Kao Kim Hourn, welcomed the launch of the programme as a significant milestone in the ASEAN-UK partnership, emphasizing its alignment with ASEAN's initiatives on regulatory reform, open trade, and financial services.
The collaborative efforts underscore the commitment of both the UK and ASEAN to fostering a more inclusive, free, and prosperous region, reflecting a shared vision for sustainable economic development. Photo by Jakartadunia, Wikimedia commons.