The ASEAN - EU economic ministers' consultation in Siem Reap, Cambodia, on September 18 (Photo: VNA) On September 18, ASEAN and USofficials looked into the implementation of bilateral economic cooperationactivities under the Trade and Investment Framework Agreement (TIFA) and the ExpandedEconomic Engagement (E3) Initiative between the two sides for 2021 - 2022, alongwith the US’ technical support under the ASEAN - US Connect and the ASEAN -USAID Inclusive Growth in ASEAN through Innovation, Trade, and E-Commerce (IGNITE)programmes. They also approved the TIFA and E3 work programmes for 2022 - 2023.
As a leading trade partner ofthe US in the region, Vietnam said it has made active contributions to theimplementation of the ASEAN - US initiatives. It also called on the US to cooperatewith the bloc more strongly in the spheres matching their potential such asenergy transition and digital transformation.
At another consultation, economicministers of ASEAN and the EU discussed the possibility of cooperationactivities in the fields benefiting both sides like supply chain connectivity, e-commerce,green technology and services. They adopted a trade and investment workprogramme for 2022 - 2023.
Meanwhile, ASEAN and Japan scrutinisedthe implementation of the ASEAN - Japan Comprehensive Economic Partnership Agreementand economic partnership activities within such frameworks as the ASEAN - JapanEconomic Resilience Action Plan and the two sides’ 10-year Strategic Economic CooperationRoadmap. They also talked new proposals for next year submitted by Japan.
Officials of ASEAN,Australia, and New Zealand discussed negotiations on the upgrade of the ASEAN -Australia - New Zealand Free Trade Area (AANFTA) to ensure that after upgraded,this deal will continue creating added value for the parties’ trade,investment, and business ties.
They agreed to make utmostefforts to basically finalise the negotiations in 2022 and also recognised theimplementation of the economic cooperation support programme under the AANFTA.
Vietnam stressed theimportance of upgrading the contents that will generate practical added valueto all parties to help consolidate regional supply chain, boost post-pandemic economicrecovery, and promote sustainable development.
In addition, ministers alsomet representatives of the ASEAN - Japan, ASEAN - EU, ASEAN - UK, ASEAN - US,and ASEAN - New Zealand business councils, along with the Australian Chamber ofCommerce and Industry to talk cooperation activities and give recommendations tofoster trade, investment, and economic rebound.
On September 17, economicministers of the Regional Comprehensive Economic Partnership (RCEP) membersgathered to discuss the recent regional and global economic situation andforecasts for 2023.
They shared information abouteconomic recovery measures and the enforcement of existing free tradeagreements (FTAs) between ASEAN and partners like the RCEP, the ASEAN - China FreeTrade Area, and the FTA and investment agreement between the bloc and HongKong. They also talked the progress of negotiations on an FTA between ASEAN andCanada.
Besides, consultations alsotook place between ASEAN and China, Canada, the three Northeast Asian countries(China, Japan, the Republic of Korea), Hong Kong (China), and the East AsiaBusiness Council./.
VNA
