ASEAN ministers agree to improve trade and investment flows under the impact of Covid-19

Mitigating the impact of the COVID-19 epidemic, ensuring supply chain connectivity, and improving trade and investment flows were the main topics discussed at ASEAN meetings with partners on September 13.

The ASEAN Ministers approved the Working Program on Economic Cooperation from 2021 to 2022 and encouraged countries to strengthen cooperation further to improve trade and investment flows, micro support enterprises, small and medium-sized enterprises, approaching digital transformation, trade facilitation, supply chain connectivity, etc.

Regarding ASEAN-China economic cooperation, on the occasion of the 30th anniversary of the establishment of the ASEAN-China Dialogue Partnership (1991-2021), the Ministers welcomed the Joint Statement of the ASEAN Economic Ministers and China on strengthening economic and trade cooperation as well as other activities to celebrate the 30th anniversary of ASEAN-China relations.

Regarding ASEAN-Korea economic cooperation, in the face of negative impacts of the COVID-19 epidemic on the regional and global economies, the Ministers emphasized that maintaining open trade and investment markets, ensuring supply chain connectivity.

Regarding economic cooperation between ASEAN and Switzerland, the Ministers welcomed the results of trade and investment activities between ASEAN and Switzerland over the past time despite facing many challenges from the COVID-19 epidemic.

Regarding economic cooperation ASEAN+3, including China, Japan, and the Republic of Korea, the Ministers recognized and welcomed the progress made in implementing the ASEAN+3 Action Plan on mitigating economic impacts of the COVID-19 epidemic based on implementing activities to ensure supply chain connectivity and enhance the region’s financial resilience.

The Ministers approved the Working Program on Economic Cooperation from 2021 to 2022 and encouraged countries to strengthen cooperation further to improve trade and investment flows and support micro and small enterprises and medium, approaching digital transformation, trade facilitation, and supply chain connection.

In particular, the Ministers also welcomed the signing of the Regional Comprehensive Economic Partnership (RCEP) during Vietnam’s ASEAN Chair year 2020. They looked forward to putting the Agreement into effect in early 2022 to help strengthen the supply chain in the region, contributing to the economic recovery after the COVID-19 epidemic.

At the conferences, Vietnam has actively contributed ideas on the direction of economic cooperation between ASEAN and foreign partners in the coming time to achieve practical benefits for Vietnam in particular and ASEAN. in general, such as strengthening regional supply chains and sustainable economic development in the context of the changing world economy and being negatively impacted by the COVID-19 pandemic.

The above meetings took place and ended successfully, contributing to the overall success of the series of events within the framework of the 53rd ASEAN Economic Ministers Meeting and related conferences.

Notably, consultation meetings between ASEAN and other partners such as the United States, Hong Kong (China), India, Australia, New Zealand… will continue in the remaining two days from 14 September 15, 2021.

(Source: vneconomy)