The Association of Southeast Asian Nations (ASEAN) and the United Kingdom have agreed on a new framework for future economic cooperation, setting out priorities for trade, investment, economic resilience, financial services, regulatory reform, digitalisation, innovation and clean energy.
The Joint Ministerial Declaration on Future Economic Cooperation was announced on 22 September 2026, marking the fifth anniversary of the ASEAN-UK Dialogue Partnership. The declaration builds on the previous 2021 economic cooperation framework and the ASEAN-UK Plan of Action for 2022–2026.
The two sides also noted that trade in goods and services between the UK and ASEAN reached £62.0 billion in 2025, highlighting the scale of their existing economic relationship.
What Does the ASEAN-UK Economic Declaration Cover?
The declaration establishes several priority areas intended to deepen economic cooperation between ASEAN and the UK.
Maintaining Open Markets
ASEAN and the UK reaffirmed their support for an open, predictable, transparent, fair and rules-based multilateral trading system, with the World Trade Organization (WTO) at its core.
The declaration also highlights the importance of maintaining market access and supporting trade and investment between ASEAN Member States and the UK.
Strengthening Economic Resilience
The partners intend to cooperate on economic resilience, including risk mitigation, economic continuity planning and supply chain resilience.
This cooperation is intended to help businesses and economies respond to changing global conditions, economic uncertainties and disruptions affecting interconnected supply chains.
Financial Services and Digital Payments
Financial services form another major part of the declaration.
ASEAN and the UK plan to strengthen regulatory dialogue and cooperation to support efficient and interoperable financial markets.
The declaration also identifies FinTech, digital payments and cross-border payment connectivity as areas for deeper cooperation. The aim is to support financial inclusion while improving the efficiency of cross-border transactions.
Sustainable Finance
The declaration also recognises sustainable finance as an important element of climate-aligned economic development.
Future cooperation is expected to include knowledge-sharing, capacity building and investment facilitation to support green industries and longer-term economic resilience.
Regulatory Reform and Standards
ASEAN and the UK will cooperate on developing predictable, transparent and agile regulatory environments.
The declaration identifies areas including:
- Regulatory simplification and streamlining
- International standards
- Good regulatory practices
- Product safety
- Intellectual property ecosystems
- Regulatory alignment
- Institutional capacity building
The parties also intend to support regulatory cooperation that can improve interoperability and market confidence.
Digital Economy, Science and Innovation
Digitalisation is a central component of the new economic cooperation agenda.
ASEAN and the UK plan to support implementation of the ASEAN Digital Economy Framework Agreement (DEFA), including trusted cross-border data flows, paperless trade and interoperable digital trade systems.
The declaration also highlights digital customs and logistics systems as tools for improving cross-border trade procedures.
Emerging Technologies and Innovation
The two sides also intend to cooperate on emerging technologies, innovation and entrepreneurship.
Areas identified include standards cooperation, knowledge-sharing, readiness assessments, capacity building and technology commercialisation. The objective is to strengthen links between innovation and economic development across ASEAN.
Clean Energy Cooperation
Clean energy is another priority under the declaration.
ASEAN and the UK intend to deepen cooperation on clean energy, innovation and technology transfer while supporting energy security and resilient energy supply chains.
The declaration specifically identifies areas such as:
- Renewable energy integration
- Offshore wind
- Hydrogen
- Energy efficiency
- Energy storage
- Digitalisation of energy systems
- Cross-border electricity trade
- Regional power interconnection
The cooperation also includes support for implementation of the ASEAN Power Grid.
Public-Private Partnerships, Skills and MSMEs
The declaration recognises the role of public-private partnerships in supporting economic growth, innovation and entrepreneurship.
It also highlights professional and business services, skills development and inclusion as cross-cutting areas of cooperation.
Micro, Small and Medium Enterprises (MSMEs) are specifically recognised, with proposed support covering access to finance, digital capabilities and trade-related skills to help smaller businesses participate in regional and global value chains.
What Does This Mean for Businesses?
The declaration provides a framework for deeper cooperation rather than announcing a single new trade agreement.
For businesses engaged in ASEAN-UK trade, the areas to monitor include digital trade systems, customs digitalisation, financial technology, regulatory cooperation, standards, supply chain resilience and clean-energy investment.
The UK Government also reported that UK exports to ASEAN amounted to £31.2 billion and UK imports from ASEAN totalled £30 billion in the year to the end of Q4 2025.
Note
The Joint Declaration sets out areas for cooperation and does not, by itself, create a new tariff schedule or replace individual trade arrangements between the UK and ASEAN Member States. Businesses should continue to check the specific rules, agreements and regulatory requirements applicable to their particular trade route and product.
Conclusion
The ASEAN-UK Joint Declaration establishes a broader agenda for future economic cooperation, covering open markets, resilient supply chains, financial services, regulatory reform, digital trade, innovation, clean energy and skills.
With UK-ASEAN trade reaching around £62 billion in 2025, the declaration provides a framework for further cooperation across trade, investment and economic development.
