AEM 53rd affirms need to improve post-pandemic trade, investment flow

Thursday, 2021-09-16 16:23:22
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Deputy Minister of Industry and Trade Tran Quoc Khanh at the virtual meeting (Photo: VNA)
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NDO/VNA - The 53rd ASEAN Economic Ministers (AEM) Meeting and relevant meetings took place from September 8-15, during which the ministers highlighted the significance of intra-bloc economic cooperation as well as collaboration between the grouping and partners.

During the event, the ministers discussed many important issues and existing problems, highlighting the need to recover trade, service and investment activities after COVID-19 is controlled, while updating the implementation of pandemic prevention and control measures, and recognising common endeavours of the ASEAN Economic Community and the region in promoting post-pandemic economic recovery.

They adopted the Bandar Seri Begawan Roadmap: An ASEAN Digital Transformation Agenda to Accelerate ASEAN’s Economic Recovery and Digital Economy Integration (BSBR) that highlights existing ASEAN initiatives that are crucial in supporting ASEAN’s ongoing digital integration.

They also recognised the outcomes of the implementation of cooperation initiatives and priorities by Brunei, the ASEAN Chair in 2021, while discussing ASEAN’s long-term action plans and programmes towards sustainable economic development in the region.

At consultations among ASEAN Economic Ministers and dialogue partners, the ministers discussed the implementation and upgrade of a number of existing free trade agreements between ASEAN and partners.

They gave opinions on Japan’s initiative on ASEAN-Japan innovative and sustainable growth, while adopting two joint statements with China and the UK, which focused on measures to boost partnership as well as trade and investment cooperation between the association and the two partners.

During the 53rd AEM Meeting and related meetings, Vietnam actively contributed ideas on intra-bloc economic cooperation with an aim to promoting regional economic integration and reinforcing regional supply chains. Vietnam also gave a number of proposals on the collaboration orientations between the ASEAN and partners in the future.

Regarding the post-pandemic economic recovery plan of CLMV countries (Cambodia, Laos, Myanmar, Vietnam), Vietnam suggested a number of solutions to strengthen trade and investment ties as well as connections among the countries. Vietnam also encouraged the strengthening of linkage among CLMV firms in farm produce and food processing and export.