THE IMPACT OF THE EU CRISIS ON EU-ASEAN RELATIONS
THE IMPACT OF THE EU CRISIS ON EU-ASEAN RELATIONS

Summary/Abstract: The member states of the Association of Southeast Asian Nations (ASEAN) have observed the Euro crisis that has hit the European Union (EU) since 2009. It goes without saying that the EU’s integration path has inspired a similar regional movement in Southeast Asia. ASEAN member countries often refer to events in the EU. The EU’s prolonged financial crisis has not only been instructive to ASEAN countries, but also changed their perceptions of the EU. In addition, the crisis has created momentum for ASEAN and EU to re-address their relationship. This article addresses the impact of the EU’s financial crisis on the inter-regional cooperative framework, expressed through the EU-ASEAN dialogue, ASEAN Regional Forum, and Asia-Europe Meeting (ASEM). In assessing the impact of the fallout on the inter-regional relations, data for this study were collected from official documents, a literature review, and interviews with government officials, members of the business community, and scholars from ASEAN member countries. This article argues that ASEAN countries continue to acknowledge the EU as an important partner, but the characteristics of the inter-regional relations are likely to change. The prolonged financial crisis has diminished the Southeast Asians’ perceptions of the EU as a competent economic power powerful; further, they recognize that global power has shifted to Asia.

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