Cecilia Malmstrom, the EU Trade Commissioner, talks to reporters following a joint news conference with Asean trade and economic ministers in Manila on Friday. (AP Photo)MANILA: Asean and the European Union agreed on Friday to work toward resuming stalled free trade agreement talks and counter a trend toward protectionism. In a joint statement, economic ministers of Asean and European Trade Commissioner Cecilia Malmstrom said the global economic outlook had improved. Negotiations on an EU-Asean free trade agreement were launched in 2007 but were suspended in 2009 due to differences over ambitions for the plan. The EU was the largest external source of foreign direct investment into Asean in 2015, at €23.3 billion ($24.7 billion).

Source: Bangkok Post March 10, 2017 11:30 UTC