International trade liberalization has increased due to globalization, with the EU leading regionalization efforts in Europe. The EU is negotiating a free trade agreement with Singapore and Malaysia to enhance trade relations. The EU is a major trading partner for ASEAN, and ASEAN is a significant trade partner for the EU. The EU's main exports to ASEAN include chemical products and machinery, while its main imports from ASEAN are machinery, agricultural products, textiles, and clothing. The EU is also the largest investor in the region. The paper analyzes the potential economic impacts of a free trade agreement between the EU and ASEAN countries.