The agreement will open up more air transport opportunities and enhance direct connectivity between the two regions, while upgrading rules and standards for concerned flights.
By setting global benchmarks that commit all 37 countries in the two regions to fair competition and to improving social and environmental conditions, it is the latest example of a new generation of international air transport agreements.
The signing means new opportunities for consumers, airlines and airports both in Europe and in ASEAN countries.
Accordingly, it replaces more than 140 bilateral air services agreements, thereby providing a single set of rules and reducing red tape.
All EU airlines will be able to operate direct flights from any airport in the EU to all airports in ASEAN Member States, and vice versa for ASEAN airlines.
In 2019, ASEAN was the EU's 9th largest market for freight and the 16th largest for passengers with more than 8 million travellers.