ASEAN Ministers adopt Declaration on enhancing supply chain connectivity

On the morning of September 16, 2024, the Conferences within the framework of the 56th ASEAN Economic Ministers Meeting (AEM 56) opened in Vientiane, Laos, chaired by Lao Minister of Industry and Trade Malaithong Kommasith with the participation of Economic Ministers of ASEAN member countries and ASEAN Secretary-General Kao Kim Hourn.

The Vietnamese delegation attending the Conference was led by Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan, along with representatives from the Ministry of Industry and Trade and the Ministry of Foreign Affairs.

On September 16, the Conferences within the framework of the 56th ASEAN Economic Ministers Meeting (AEM 56) opened in Vientiane, Laos.

At the Conference, in their opening remarks, the Ministers expressed their sympathy and sympathy with Vietnam, Laos, Thailand and the Philippines for the severe impacts and huge losses of lives and property caused by Typhoon Yagi. The Ministers expressed their solidarity, together overcoming the difficult period and hoped that in the coming time, the countries will overcome the consequences of the typhoon and soon bring people's lives back to normal.

The Ministers then shared information and updated the implementation of Laos' priority economic cooperation initiatives during its ASEAN Chairmanship year 2024, important tasks of the ASEAN Economic Community such as the implementation and negotiation of upgrading the ASEAN Trade in Goods Agreement (ATIGA), negotiations on the ASEAN Framework Agreement on the Digital Economy, the implementation of sustainability initiatives in the ASEAN Economic Community, the progress of implementing the ASEAN Economic Community Blueprint 2025 and developing the ASEAN Community Vision 2045 and strategic plans, as well as preparations for consultations between ASEAN Economic Ministers and partner countries.

The Ministers noted that the ASEAN economy grew by 4.1% in 2023 and is expected to grow by 4.6% and 4.7% in 2024 and 2025, respectively; total intra-regional trade in 2023 reached US$3.5 trillion.

The Ministers also noted that six out of 14 priority economic cooperation initiatives of Laos, the ASEAN Chair in 2024, under the theme “ASEAN: Promoting Connectivity and Resilience”, have been completed, notably the basic conclusion of negotiations to upgrade the ASEAN-China Free Trade Agreement (ACFTA 3.0) as well as the successful development of policies to address the financial gap among Micro, Small and Medium Enterprises (MSMEs).

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan - Head of the Vietnamese delegation took a photo with Lao Minister of Industry and Trade Malaithong Kommasith

At the Conference, the Ministers approved the ASEAN Declaration on Strengthening Supply Chain Connectivity to be submitted to the 24th ASEAN Economic Community Council Meeting and the 44th and 45th ASEAN Summits scheduled to take place in October 2024. In addition, at the Conference, the Ministers also approved a number of other documents such as the SME Policy Index 2024, the ASEAN Comprehensive Business Recognition System Model Framework, and the Reference Document for the Carbon Neutrality Working Group.

The Ministers also spent time discussing the upgrading of the ATIGA Agreement, addressing long-standing issues in the implementation of this agreement; recommendations of the High-Level Task Force on ASEAN Economic Integration related to the final review of the ASEAN Economic Community Blueprint 2025, the development of the ASEAN Economic Community Strategic Plan for the period 2026-2030, the implementation of the ASEAN Vision 2045, and assessing emerging issues in the FTAs ​​that ASEAN has signed with partner countries (ASEAN+ FTAs); Timor Leste's accession to ASEAN, etc. and reviewing preparations for the ASEAN Summit and related conferences scheduled to take place in early October 2024.

In addition, the Ministers also discussed internally economic cooperation activities between ASEAN and dialogue partners such as the United States, China, the European Union, Japan, South Korea, Australia, New Zealand, India, Russia, Canada, the United Kingdom, etc., the implementation of free trade agreements between ASEAN and partner countries, including the review and upgrading of the ASEAN-India Trade in Goods Agreement (AITIGA), FTA negotiations between ASEAN and Canada, the implementation of the Regional Comprehensive Economic Partnership (RCEP) and the possibility of negotiating a Free Trade Agreement between ASEAN and the Gulf Cooperation Council (GCC).

On the sidelines of the Conference, the Ministers also met and discussed with the ASEAN Business Advisory Council (ABAC), approved the recommendations of the ASEAN Secretariat on strengthening the Public-Private Partnership Mechanism between ASEAN and ABAC, and acknowledged the recommendations and priorities of ABAC in the coming time to enhance regional trade and investment integration, facilitating cooperation activities on sustainable development.

Participating in discussions at the Conference, Vietnam affirmed ASEAN's central role in economic and trade cooperation not only in the region but also in the global supply chain.

On that basis, Vietnam has actively contributed opinions on issues in intra-ASEAN economic cooperation such as promoting priority economic cooperation initiatives proposed by the host country Laos, preparations for the signing of the Protocol amending the ACFTA 3.0 Agreement, negotiations to upgrade the ATIGA Agreement and the possibility of negotiating an FTA between ASEAN and the GCC Council, thereby demonstrating Vietnam's strong commitment to regional economic integration, maintaining an active role in activities to create momentum for regional and global economic growth as well as strengthening regional supply chains. Vietnam has also taken note of comments from ASEAN countries to be able to perfect policies towards further promoting trade and investment among countries in the region.

The 56th AEM Conference will end on the afternoon of September 17, 2024. This Conference will be followed by a series of Economic Ministerial Consultations between ASEAN and its dialogue partners scheduled to take place from September 19 to 22, 2024.

Source: https://congthuong.vn/cac-bo-truong-asean-thong-qua-tuyen-bo-ve-tang-cuong-ket-noi-chuoi-cung-ung-346569.html