ASEAN ministers discuss economic recovery plan

Economic recovery plan remains at top of the 52^nd ASEAN Economic Ministers’ Meeting (AEM-52) agenda held from August 25 – 29.

Vietnam's Minister of Industry and Trade Tran Tuan Anh at the meeting. Photo: MoIT.

The event is chaired by Vietnam's Minister of Industry and Trade Tran Tuan Anh, along with the participation of other ASEAN Economic Ministers, General Secretary and representatives of the ASEAN Business Advisory Council (ASEAN BAC).

Other topics discussed at the meeting of ASEAN ministers on August 15 were reviewing the progress of economic initiatives in 2020 under the ASEAN Chairmanship of Vietnam; updating the current Covid-19 situation in each country and subsequent responses; debating recommendations from the High-Level Task Force on ASEAN Economic Integration and the Senior Economic Officials Meeting (SEOM); preparing for upcoming dialogues with ASEAN’s partners, as well as view on the reform progress of the World Trade Organization (WTO), among others.

Notably, the ministers approved the ASEAN Digital Integration Index, terms of reference (TOR) for linkages of innovation hubs in ASEAN, and guidance to promote comprehensive business within ASEAN, with the first two being among 13 Priority Economic Deliverables (PEDs) under Vietnam’s 2020 ASEAN Chairmanship.

While the Covid-19 pandemic is still raging in many ASEAN countries, Vietnam remains determined in hosting meetings at various levels to promote trade, investment and innovation among the ASEAN business community.

Vietnam has also actively participated in regional initiatives to maintain regional and global supply chains, including the Hanoi Action Plan, and a joint statement from ASEAN Economic Ministers.

Additionally, ministers at the AEM-52 discussed their visions to ensure the conclusion of the negotiation process and the signing of the Regional Comprehensive Economic Partnership (RCEP) by the end of this year.