The 18th ASEAN Economic Community (AEC) Council Meeting takes place in the Thai province of Nonthaburi on October 31 (Photo: VNA)Bangkok (VNA) – The 18th ASEAN Economic Community(AEC) Council Meeting took place in the Thai province of Nonthaburi on October31 to prepare for the 35th ASEAN Summit slated for the next few days.
The Vietnamese delegation, includingrepresentatives from the Ministry of Industry and Trade, the Ministry ofFinance, and the Ministry of Planning and Investment, was led by DeputyMinister of Industry and Trade Tran Quoc Khanh.
Opening the event, Thai Deputy Prime Ministerand Minister of Commerce Jurin Laksanavisit said the formation of the AEC playsan important role in the economy of the region and the world.
He noted ASEAN is attracting attention frominvestors around the globe, adding that foreign investment in ASEAN increased5.3 percent in 2018, which was a positive sign for the region amidst growingtensions among big economies and the global economic recession.
At the meeting, the AEC Council reviewed theimplementation of the AEC Blueprint 2025 and made 10 recommendations to pushahead with the work.
They also looked back on the realisation ofinitiatives launched by Thailand, which holds the ASEAN chairmanship in 2019.They noted that 10 out of the 13 priorities Thailand had set have beencompleted, and the three remaining will be completed by the end of this year.
Also on October 31, ASEAN economic ministerssigned a protocol for an enhanced dispute settlement mechanism.
The AEC Council chairs the building andimplementation of the AEC Blueprint 2025. The blueprint consists of fiveinterrelated and mutually reinforcing characteristics, namely: a highlyintegrated and cohesive economy; a competitive, innovative, and dynamic ASEAN;enhanced connectivity and sectoral cooperation; a resilient, inclusive,people-oriented, and people-centred ASEAN; and a global ASEAN./.
VNA
