ASEAN Economic Ministers Meeting: Shaping strategic initiatives on regional trade and investment

The 57th ASEAN Economic Ministers (AEM) Meeting is a key preparatory step, contributing to shaping strategic initiatives on trade and investment before presenting them to the 47th ASEAN Summit next month.

The 57th ASEAN Economic Ministers (AEM) Meeting took place in Kuala Lumpur from September 22-26. (Source: Business Times)

The 57th ASEAN Economic Ministers (AEM) Meeting and related meetings took place in Kuala Lumpur from September 22-26, with the participation of more than 500 delegates from ASEAN member countries and dialogue partners.

The event is considered a key preparatory step, contributing to shaping strategic initiatives on trade and investment, before presenting them to the 47th ASEAN Summit next month.

One of the key contents of the Conference is the implementation of 18 Priority Economic Initiatives (PEDs), including the Joint Declaration on Economic Cooperation between ASEAN and the Gulf Cooperation Council (GCC), adopted last May. This initiative is considered a step forward in expanding economic cooperation between the two regions.

In addition, the Conference will also discuss the agenda for the Ministerial Conference between member countries participating in the Regional Comprehensive Economic Partnership (RCEP).

RCEP, the world's largest trade agreement involving 10 ASEAN countries and five partners, China, Japan, South Korea, Australia and New Zealand, accounting for 30% of global GDP, continues to be an important foundation to promote regional economic cooperation.

Member countries are making efforts to put the agreement into practice, aiming to promote the economic potential within the bloc and strengthen links with external partners.

At the meetings with dialogue partners, ASEAN will also hold consultations with US Trade Representative Jamieson Greer to discuss new tax policies and seek solutions to balance benefits for key industries in the region.

This conference is expected to open constructive discussions towards increasing intra-bloc trade, which currently accounts for about 22-23% of total regional trade, and promoting new cooperation initiatives.

Source: https://baoquocte.vn/hoi-nghi-bo-truong-kinh-te-asean-dinh-hinh-cac-sang-kien-chien-luoc-ve-thuong-mai-va-dau-tu-khu-vuc-328529.html