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ASEAN and European Union addressing the challenges of the 21st century

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  • Chytopoulou Eleni

    (Political Science and International Relations, University of Peloponnese, Greece)

Abstract

Subject and purpose of work The European Union (EU) and the Association of Southeast Asian Nations (ASEAN) are trade partners and believe in rules-based multilateralism. They have developed strong ties despite starting from different starting points and having different standards. The EU is a mature regional cooperation scheme(union) with a highly institutionalized and legalized architecture. At the same time, ASEAN is an intergovernmental association with low institutionalization and legalization in which decisions are made by consensus. After almost fifty years of establishing a diplomatic dialogue between the EU and ASEAN, their cooperation has been of essential importance in maintaining peace and balancing great power rivalries. Materials and methods Bibliography in books and articles. Results The EU and ASEAN are among the world’s largest economies in terms of gross domestic product. The EU is already the world’s second-largest economy, and ASEAN could become the world’s fourth-largest economy by 2030. The EU looks forward to strengthening its economic cooperation with ASEAN to maintain its competitive position in the dynamically developing region of the Indo-Pacific. ASEAN is a crucial hub for transporting European goods and is essential in regional supply chains. Closer trade and investment relations could also help the EU achieve its goal of a strategic partnership between the two regional blocks encompassing political and economic cooperation. It would be desirable if the EU and ASEAN continue to connect Europe and Asia by acting as balancers and reducing tensions between the major international players. Conclusions In the 21st century, the rise of China, India, and other regional powers is consolidating a multipolar system and new geopolitical balances. In this new era, the EU and ASEAN can continue to connect Europe and Asia by acting as balancers and reducing tensions between the major international players.

Suggested Citation

  • Chytopoulou Eleni, 2024. "ASEAN and European Union addressing the challenges of the 21st century," Economic and Regional Studies / Studia Ekonomiczne i Regionalne, Sciendo, vol. 17(3), pages 373-407.
    • Handle: RePEc:vrs:ecoreg:v:17:y:2024:i:3:p:373-407:n:1001
    DOI: 10.2478/ers-2024-0021
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    References listed on IDEAS

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    1. Ian Manners, 2002. "Normative Power Europe: A Contradiction in Terms?," Journal of Common Market Studies, Wiley Blackwell, vol. 40(2), pages 235-258, June.
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    JEL classification:

    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General
    • P20 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - General
    • P45 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - International Linkages
    • P47 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Performance and Prospects

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