ASEAN commits to maintaining a free, fair and inclusive multilateral trading system

ASEAN is committed to maintaining a free, fair, inclusive, rules-based, non-discriminatory multilateral trading system, with the principles of the World Trade Organization (WTO) at its core.

The 57th ASEAN Economic Ministers (AEM) Meeting with the theme “Inclusiveness and Sustainability” took place from September 22-26 in Malaysia, with the participation of economic leaders from 10 ASEAN countries and ASEAN Secretary General Kao Kim Hourn. (Source: ASEAN)

This is one of the important results of the 57th ASEAN Economic Ministers (AEM) Meeting which ended on the afternoon of September 26 in Kuala Lumpur, Malaysia.

At the closing press conference, Malaysian Minister of Trade, Investment and Industry Zafrul Aziz said that ASEAN Economic Ministers exchanged views on regional and global economic prospects and discussed progress in implementing priority economic goals - including initiatives within the ASEAN Economic Community and joint initiatives of the bloc with dialogue partners.

Mr. Aziz noted that the main factor dominating discussions at internal ASEAN meetings as well as consultations with dialogue partners is the increasing trend of protectionism and unilateral trade measures, which pose significant risks to the multilateral trading system.

The ASEAN Economic Ministers expressed their determination to work constructively with all external partners to address legitimate concerns. The meeting took note of the recommendation of the ASEAN Geo-Economic Task Force on a new strategy to promote ASEAN integration in the context of geo-economic fragmentation.

On the sidelines of the upcoming Summit (47th), ASEAN will hold a joint meeting of Economic Ministers and Foreign Ministers of member countries to promote policy unity and enhance inter-pillar coordination.

Minister Zafrul Aziz highlighted the good progress in implementing 18 priority economic targets, of which 9 are under the direct authority of the AEM, as well as mentioning that Timor-Leste will be officially admitted as the 11th member at the upcoming Summit of the bloc.

Source: https://baoquocte.vn/asean-cam-ket-duy-tri-he-thong-thuong-mai-da-phuong-tu-do-cong-bang-toan-dien-329035.html