On February 28, the 31st ASEAN Economic Ministers' Retreat (AEMR-31) took place in the state of Johor, Malaysia.
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| Delegates attending the 31st ASEAN Economic Ministers' Retreat (AEMR-31) pose for a souvenir photo. (Source: asean.org) |
Attending the conference were representatives of member countries of the Association of Southeast Asian Nations (ASEAN) and Timor Leste (observer status), ASEAN Secretary General Kao Kim Hourn.
The Vietnamese delegation, including relevant units of the Ministry of Industry and Trade and the Ministry of Foreign Affairs, led by Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan, attended the conference.
Minister of Investment, Trade and Industry of the host country Tengku Datuk Seri Zafrul Abdul Aziz said that Malaysia highly appreciates Laos' role as ASEAN Chair in 2024, thereby helping ASEAN achieve significant achievements in implementing initiatives for comprehensive and sustainable economic development and promoting regional integration.
Inclusiveness and sustainability are ASEAN’s mottos in implementing the ASEAN Community Vision 2025. Over the past decade, ASEAN has achieved remarkable milestones such as its impressive economic recovery after being severely affected by the Covid-19 pandemic. ASEAN’s total trade turnover in 2023 reached 3.5 trillion USD, of which the trade surplus was 96.7 billion USD.
Contributing to the success of the conference, the Vietnamese delegation actively discussed the contents of the agenda, expressed support for the initiatives and priorities of Malaysia's ASEAN Chairmanship 2025, and expressed confidence that, with Malaysia's efforts, ASEAN will achieve great results, towards an "inclusive and sustainable" ASEAN.
On the sidelines of the conference, leaders of the Vietnamese Ministry of Industry and Trade also had working sessions and discussions with Singaporean Deputy Prime Minister and Minister of Trade and Industry Gan Kim Yong, Malaysian Deputy Minister of Investment, Trade and Industry Liew Chin Tong and delegations attending the conference to discuss bilateral cooperation programs, as well as measures to resolve some difficulties and obstacles in trade relations and some areas of mutual interest.
Mr. Luong Hoang Thai, Director of the Multilateral Trade Policy Department, Ministry of Industry and Trade, shared that as an active member of ASEAN, Vietnam has had many initiatives to contribute to the conference on the ASEAN Trade in Goods Agreement and the ASEAN Digital Economy Framework Agreement.
These are important initiatives, highly appreciated by delegates from other countries. In addition, Vietnam also strives with ASEAN member states to promote relations with partners outside the region, especially the Gulf Cooperation Council (GCC).
At the conference, the ministers agreed to approve 18 initiatives and priorities for economic cooperation during the ASEAN Chairmanship Year 2025 proposed by Malaysia, focusing on promoting trade and investment; building a roadmap for inclusive and sustainable development; enhancing economic integration and connectivity; and building a resilient ASEAN digital economy.
In addition, the Conference also adopted the document on the Negotiating Principles for Upgrading the ASEAN Framework Agreement on Intellectual Property Cooperation (AFAIPC), thereby officially launching negotiations to upgrade this agreement, while acknowledging many initiatives, proposals, solutions as well as providing specific directions to ensure the achievement of the set goals and plans in 2025 - the pivotal year to complete the implementation of the 2025 Economic Community Master Plan.
Delegates also focused on discussing many contents to promote ASEAN economic cooperation in the coming time such as directions for upgrading the ASEAN Trade in Goods Agreement (ATIGA) and negotiating the ASEAN Digital Economy Framework Agreement (DEFA); measures to implement priority economic initiatives proposed by Malaysia in 2025 with the theme "Inclusive and Sustainable", as well as other annual priorities of the ASEAN Economic Community; adopting recommendations of the High-Level Task Force on ASEAN Economic Integration, the implementation of the ASEAN Economic Community Blueprint 2025, as well as building the ASEAN Economic Community Strategic Plan for the period 2026-2030, and the ASEAN Community Vision 2045.
The meeting also discussed and agreed on the direction to promote Timor Leste’s ASEAN accession process in relation to the requirements under the Economic Pillar. Delegates expressed optimism that Timor Leste is moving closer to its goal of becoming a member of ASEAN, especially when this country presented its views and made recommendations for the first time at the 47th High Level Task Force on ASEAN Economic Integration (HLTF-EI) and the Senior Economic Officials Meeting in preparation for the AEMR-31. This is an important milestone before ASEAN officially welcomes Timor Leste as a full member.
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| Panorama of the 31st ASEAN Economic Ministers' Retreat (AEMR-31) taking a souvenir photo. (Source: asean.org) |
Previously, Malaysian Foreign Minister Datuk Seri Mohamad Hasan shared on February 24 that Timor Leste is expected to achieve official ASEAN membership at the 47th ASEAN Summit in October.
To continue maintaining ASEAN's central role, delegates also listened to reports from scholars and businesses on new developments and trends that have an impact on the regional and world economy; research to promote negotiations to upgrade the ASEAN-China Free Trade Agreement, the ASEAN-India Trade in Goods Agreement and new negotiations on the ASEAN-Canada Free Trade Agreement; exchange strategic solutions to deal with difficulties and challenges such as the unstable world economic situation, increasing trade protectionism, as well as US tax policies; promote the possibility of further expanding ASEAN-US cooperation in potential areas, expanding relations with traditional partners and new partners such as the GCC.
On the sidelines of the AEMR-31, ASEAN economic ministers held a consultation session with the ASEAN Business Advisory Council (ASEAN-BAC). During the consultation session, the ministers and ASEAN business representatives discussed 14 initiatives of ASEAN-BAC in 2025 to strengthen economic cooperation, enhance competitiveness and accelerate digitalization.
At the end of the conference in the afternoon of the same day, delegates highly appreciated the results achieved and agreed that the goals set for ASEAN were in line with the development needs of the region and the world. In the coming time, the specialized groups will carry out the next tasks in the process of building a stronger and more prosperous ASEAN Economic Community.
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