ASEAN economic leaders take photo at the event (Photo: Xinhua/VNA) Singapore (VNA) – Through thenegotiations of the Regional Comprehensive Economic Partnership (RCEP), theAssociation of Southeast Asian Nations (ASEAN) has affirmed its central role increating new regional trade architecture that contributes to the multilateraltrading system and creating momentums to boost trade liberalisation andcommercialisation.
This is particularly important given obstaclesposed by trade protectionism and unilateralism in international traderelations, participants said at the 50th ASEAN Economic Ministers (AEM-50)Meeting and Related Meetings, which wrapped up in Singapore on September 1, afterfour days of working.
Economic ministers from ASEAN stated that theAEM-50 has significant meaning to push negotiations of free trade agreements(FTAs) between ASEAN and its partners, especially the RCEP.
The negotiations of theRCEP are expected to be concluded at the end of 2018 with important tasks suchas building mechanisms on customs procedures and trade facilitation in theregion, competitiveness policy, intellectual property, elimination of tradebarriers, e-commerce development, building ASEAN trade facilitation indicators,supporting micro, small, and medium enterprises, optimising trade incentives,and narrowing development gap among ASEAN countries.
During the AEM-50, ministers focused discussionon ASEAN priorities for economic-trade cooperation in 2018, reviewed theroadmap to realise its commitments in agreements and the implementation ofpriorities in 2018 to look toward the completion of building the ASEAN EconomicCommunity 2025.
Ministers signed the First Protocol to Amend theASEAN Trade in Goods Agreement (ATIGA) to allow the operationalisation of theASEAN-wide Self-Certification (AWSC), and the Protocol to implement the 10thASEAN Framework Agreement on Services (AFAS).
That businesses are allowed to self-certify theorigin of their products is considered a significant stride in ASEAN to supportenterprises, especially small and medium sized ones, to make better use ofincentives within ASEAN framework.
Such outcomes will be further promoted to reportat the 33rd ASEAN Summit and related meetings in November in Singapore.
Regarding extra-bloc cooperation, ministersunderlined positive results that ASEAN had gained while implementing FTAs withpartners such as India, China, the Republic of Korea, Japan, Australia, NewZealand and China.
Minister of Industry and Trade Tran Tuan Anh,head of the Vietnamese delegation, said the AEM-50 and related meetings arevery significant for Vietnam in preparation for the ASEAN meetings in 2020.
Vietnam has coordinated with other member statesto maintain the leading role of ASEAN as well as push ahead with negotiationsto protect the benefits of ASEAN nations, he said.
With the aim of reaching a high-quality andinterest-balance agreement, Vietnam had actively joined discussions and putforth proposals in some fields to address disagreements between the involvedparties but still ensure national interests, he added.
The country has alsobuilt a negotiation package on investment for ministers’ approval. Along withother ASEAN countries, Vietnam has actively contributed to the conclusion ofnegotiations of a chapter on customs procedures and trade facilitation.
On the sidelines of the AEM-50, Minister TranTuan Anh met with his counterparts from Singapore, Indonesia and the Republicof Korea to discuss bilateral cooperation as well as regional and multilateralcollaboration.-VNA
VNA
