Equity and sustainability have become key factors of consideration in the development effort of the 21st century. The importance of addressing poverty was recognised in the Millennium Development Goals (MDGs) and this was carried forward into the formulation of the Sustainable Development Goals (SDGs) as well, tying the concept of equity into the sustainable development agenda. This article looks at how have these two concepts been addressed in the Association of Southeast Asian Nations (ASEAN) and European Union (EU) through thematic content analysis. The analysis assesses the major similarities and differences between ASEAN and EU in terms of their concerns and approach to equitable and sustainable development. This comparative assessment provides the finding to discuss the prospects and challenges available to ASEAN and the EU in the following section. This includes reshaping the dynamic of the relationship between ASEAN and EU to one of mutual learning, improving monitoring and accountability, increasing engagement of all stakeholders, and managing trade-offs. Finally, this article considers how these factors concern Malaysia at the local level.