Vietnam contributes to intra-bloc cooperation at AEM-55

The Vietnamese representative gave comments on issues related to intra-ASEAN economic cooperation such as preparations for the signing of the second Protocol amending the agreement on the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), negotiations to upgrade the ASEAN Trade in Goods Agreement (ATIGA), and preparations for the launch of negotiations on the ASEAN Digital Economy Framework, thereby demonstrating Vietnam's strong commitment to regional economic integration and helping maintain its active role in activities that create a driving force for regional and global economic growth, promote post-COVID-19 economic recovery, and strengthen regional supply chains.

At the meeting, participating ministers shared information and updated the implementation of Indonesia's prioritised economic cooperation initiatives in its ASEAN Chairmanship Year 2023, and important tasks of the ASEAN Economic Community such as the ASEAN Strategy for Carbon Neutrality, preparations to launch negotiations on the ASEAN Digital Economy Framework, implementation and upgrade of the ATIGA as well as preparations for consultations between economic ministers of ASEAN member states and their partners.

They also exchanged views on recommendations by the High-Level Task Force on ASEAN Economic Integration related to the building of the post-2025 ASEAN Economic Community vision, and reviewed preparations for the upcoming ASEAN Summit and related summits.

In addition, the ministers also discussed economic cooperation activities between ASEAN and dialogue partners such as the US, China, the European Union, Japan, the Republic of Korea, Australia, New Zealand, India, Russia, Canada, and the UK, along with the implementation of free trade agreements (FTAs) between ASEAN and partner countries, including the upgrade of the ASEAN-China FTA, negotiations on an FTA between ASEAN and Canada, and the implementation of the Regional Comprehensive Economic Partnership (RCEP).

On the sidelines of the meeting, the ministers discussed with the ASEAN Business Advisory Council (ABAC) about the council’s recommendations and priorities related to promoting the use of electric vehicles in the region, strengthening regional trade and investment integration, facilitating collaboration activities on sustainable development, and maintaining health measures to respond to epidemics.

As planned, this meeting will be followed by a series of Economic Ministerial Consultations between ASEAN and its dialogue partners scheduled for August 20-22.