Evolution of Trade and Economic Cooperation Between the European Union and ASEAN Member Countries Since 2000

This paper examines the process of trade and economic cooperation between the European Union and ASEAN member countries since 2000. Today the policy of new regionalism extends over the whole world and conclusion of many of broad-based agreements, such as TPP and RCEP, is on its final stage. ASEAN-EU are widening their cooperation in all spheres through many existing ASEAN-EU mechanisms such as ASEAN-EU Ministerial Meeting and Free Trade Agreements with ASEAN member-states. These actions already give impressive results: the EU became ASEAN’s second largest trading partner and the biggest provider of FDI in ASEAN. In fact, the EU negotiates with ASEAN about creation of fully-fledged EU-ASEAN region-to-region FTA, which would eliminate tariff and non-tariff barriers, and reduce regulatory differences and standards. Key words: EU-ASEAN trade, international trade, economic cooperation, barriers, regulatory convergence, free trade agreement, new regionalism, FDI