During the summit, Ursula von der Leyen stated: “We want to trade more with each other. We already are each other’s third largest trading partners,” and “Our ultimate goal would be to negotiate a region-to-region free trade agreement.”
Major South East Asian palm oil producer countries are gearing up to retaliate against the European Union’s controversial deforestation regulation, with the situation rapidly devolving to the point that a trade war could be on the horizon.
Indonesia’s Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan has expressed his hope that the largest economy of Southeast Asia will not import petrochemical products from 2027 thanks to petrochemical industry development in North Kalimantan’s green industrial area.
Indonesian president Joko Widodo said his government will soon consider halting the export of unprocessed copper ores to encourage domestic processing of raw materials in the country’s industrialisation push, following a similar policy on nickel and bauxite.
Malaysia’s external trade activities is expected to expand steadily beyond 2023 amid the impact of new trade agreements, apart from elevated commodity prices and lower interest rates.
Australia increased its imports of wooden furniture from Southeast Asian markets last year, with Vietnam making up a significant portion of the overall figure.
Vietnamese commodities exported to Laos rose 10.4% last year to hit US$656.4 million, of which petroleum exports brought in US$125.4 million, up 439%.
The European Union (EU) and Malaysia signed a Partnership and Cooperation Agreement (EU-MY PCA) in December 2022.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
