ASEAN and UK Launch £25 Million Economic Integration Programme
The UK Mission to ASEAN and the ASEAN Secretariat launched the ASEAN-UK Economic Integration Programme (EIP) in Jakarta to foster economic growth in the region.
From: UK Mission to ASEAN
Published: 25 April 2024
The UK Mission to ASEAN and the ASEAN Secretariat launched the ASEAN-UK Economic Integration Programme (EIP) today in Jakarta. This four-year initiative, valued at up to £25 million, aims to foster economic growth across the region by tackling development barriers within ASEAN member states and the broader ASEAN Economic Community.
The EIP is a comprehensive initiative designed to supercharge ASEAN’s economic integration. It will take a multi-faceted approach, focusing on high-impact activities. It will provide targeted support to ASEAN member states through technical assistance, capacity building, and knowledge-sharing partnerships. Additionally, the programme will explore the untapped potential of digitalisation as a key driver of economic growth across the entire ASEAN region and focus on supporting micro, small and medium-sized enterprises.
The EIP will be implemented across all ten ASEAN member states and Timor-Leste. The programme will focus on three key areas:
Supporting regulatory reform to facilitate trade and economic activity.
Promoting open trade to address barriers to trade between ASEAN member states and to promote global trade, including with the UK.
Developing financial services to strengthen and modernise financial services and increase access to finance for citizens and businesses across ASEAN and Timor-Leste.
UK Ambassador to ASEAN, Sarah Tiffin, said, “The UK is proud to launch the Economic Integration Programme, enhancing our Dialogue Partnership even further. Since becoming a Dialogue Partner, the UK has been committed to working alongside ASEAN nations to reduce poverty in the region and provide the foundation for more inclusive economic development that benefits the poorest. This programme will be the UK’s key tool to address these significant challenges, in partnership with our ASEAN friends.”
His Majesty’s Trade Commissioner for Asia Pacific and the UK’s Senior Economic Official to ASEAN, Martin Kent, said, “The launch of the ASEAN-UK Economic Integration Programme highlights our commitment to work together with ASEAN towards a more cohesive regional economy. The programme will harness opportunities from the digital economy with a strong focus on women’s economic empowerment and small business development. We look forward to bringing the best of UK expertise in regulatory reform, financial services and trade policy to ASEAN for mutual prosperity.”
Secretary General of ASEAN, Dr. Kao Kim Hourn, said, “Today marks a new milestone in the ASEAN-UK partnership as we launch this Programme. I particularly welcome the Programme’s focused areas of regulatory reform, open trade and financial services. I look forward to the programme’s support to ASEAN’s existing initiatives on these three key areas and its contribution to ASEAN’s economic integration.”
This collaborative programme strengthens the thriving partnership between the UK and ASEAN nations. The UK remains committed to working alongside ASEAN to create a more inclusive, free, and prosperous region for all.
