The European Union and its member states will mobilise €10bil (US$10.59bil or RM47.04bil) to speed up infrastructure investment in Asean countries, the EU announced as it marked 45 years of cooperation with the bloc. The money comes under the Global Gateway.
The package centres on the green transition and sustainable connectivity in South-East Asia. Two Team Europe Initiatives sit underneath it: the Sustainable Connectivity Initiative and the Green Team Europe Initiative. Spending will go to energy, transport, digitalisation, education, and the promotion of trade and sustainable value chains. The aim is to support the region’s move to a green economy while widening access to essential services, economic opportunities and jobs.
European Commission president Ursula von der Leyen said in a statement: “We celebrate 45 years of cooperation between two regions that believe in multilateralism and a rules-based world order. Global Gateway will further deepen our strategic partnership. The Sustainable Connectivity Initiative will strengthen Asean’s economy, create jobs and be a catalyst in our fight against climate change.”
What each initiative covers
The Sustainable Connectivity initiative would back interconnections between Asean’s electric grids, to improve access to renewable energy. It would also pay for digitalisation, including connectivity through submarine cables, and promote value chains that are sustainable environmentally, economically and socially.
The Green initiative deals with climate action, environmental and biodiversity protection, and the clean energy transition. It also covers disaster resilience and efforts to prevent illegal logging, wildlife trafficking and air pollution. It provides a framework for coordinated green action between participating Team Europe partners and Asean and its member states.
Malaysia was represented at the 10th Asean-EU Business Summit, held alongside the 45th Asean-EU Commemorative Summit in Brussels. Deputy Minister of International Trade and Industry Liew Chin Tong attended on behalf of Minister Tengku Datuk Seri Zafrul Abdul Aziz, Bernama reported.
