FINANCIAL inclusion will take a prominent place in discussions among government and business leaders from Asean and Europe as the 12th Asean-EU Business Summit convenes in Manila on September 22, alongside the Asean 58th Economic Ministers’ Meeting.
The summit will examine how greater access to financial services can support household resilience, business investment and broader economic growth.
It is a part of discussions on four areas critical to Asean’s long-term development: the energy transition, financial inclusion, digital connectivity and artificial intelligence (AI) transformation, and health and nutrition.
Steven Chan, Group Chief Government Relations and Policy Officer of Prudential plc, said financial services such as insurance can help households and businesses manage economic shocks while giving them greater confidence to invest.
‘Trade and investment are strongest when growth is resilient, inclusive and built on confidence. Insurance is not only a protection tool; it is also a driver of prosperity, helping households manage financial shocks, enabling businesses to invest with greater certainty, and supporting healthier, more productive societies,’ Chan said.
The summit is expected to examine how private investment can be directed toward areas identified by governments as regional priorities, including financial inclusion and other measures that can strengthen economic resilience.
The meeting comes as three Southeast Asian economies negotiate bilateral free-trade agreements with the European Union, adding trade and investment to the agenda of the gathering.
Chris Humphrey, Executive Director of the EU-Asean Business Council (EU-ABC), said European companies are drawn to Southeast Asia by its growth prospects but need clearer and more predictable trading conditions to deepen their commitments.
‘European companies come to this region for its growth, and they stay for its potential. What helps them commit further is straightforward: a predictable, transparent and investor-friendly trading environment,’ Humphrey said.
‘Three trade negotiations are live at the moment. We are hopeful they will result in high-quality FTAs that deliver practical commercial outcomes to both European and Southeast Asian companies, such as increased market access, fewer regulatory barriers, clearer rules and greater customs efficiency,’ he added.
The summit comes in the closing months of the Philippines’s chairship of Asean, which has emphasized practical cooperation across the region.
European business sentiment toward Asean remains positive, with 78 percent of respondents in the EU-ABC’s latest sentiment survey expecting trade and investment in the region to increase over the next five years.
Among companies considering supply-chain shifts, 67 percent identified Asean as a potential destination, putting the region ahead of China and South Asia, according to the survey.
Beyond financial inclusion, the program will feature a panel on digital connectivity, including efforts to align payment systems, data rules and digital infrastructure across Asean’s 10 member states.
Another session will examine nutrition and food security and their links to workforce productivity and long-term competitiveness.
More than 200 representatives from government, business, development institutions and the diplomatic community are expected to attend the summit.