Implementation of Vietnam’s initiatives to ASEAN Economic Community reviewed

Wednesday, 2020-11-11 11:03:52
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Delegates participate in the virtual meeting (Photo: VNA)
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NDO/VNA – The implementation of priorities and initiatives proposed by Vietnam as Chair of ASEAN 2020 to the ASEAN Economic Community (AEC) was reviewed at the 19th AEC Council Meeting held virtually on November 10.

Seven out of the 13 priorities have been completed while the implementation of the remainders is continuing, the meeting heard.

The AEC Council has been realising the AEC Blueprint 2025 with the aim of turning ASEAN into a highly integrated and cohesive economy; a competitive, innovative, and dynamic ASEAN; an enhanced connectivity and sectoral cooperation; a resilient, inclusive, people-oriented, and people-centred ASEAN; and a global ASEAN.

The delegates also looked at a preliminary report on the mid-term review of the implementation of the blueprint.

According to the report, which is one of the 13 priorities proposed by Vietnam in an effort to better the implementation of the blueprint, as of the second quarter of this year, ASEAN had completed up to 84% of the set measures.

The participating ministers approved 12 recommendations so as to help ASEAN reach the targets set for the remaining period (2021-2025) amidst the rapid, unforeseeable regional and international situation.

On this occasion, the ministers signed a memorandum of understanding (MoU) on the implementation of non-tariff measures on essential goods, aiming to carry out the Hanoi Plan of Action on enhancing economic cooperation within ASEAN and connecting supply chains amidst the COVID-19 pandemic.

The meeting also approved a report of the AEC Council to be submitted to the 37th ASEAN Summit slated for November 12-15.