ASEAN Economic Ministers and Partners Agree on 3 Joint Statements on Trade

Promoting cooperation in ASEAN, turning challenges into opportunities

On May 20, the Special Consultation Conferences between ASEAN Economic Ministers and their partners China, Australia - New Zealand, and Japan took place online under the chairmanship of the Malaysian Minister of Investment, Trade and Industry.

The meeting was attended by Economic Ministers of ASEAN member countries, Timor-Leste (as an observer), Economic Ministers of partner countries and ASEAN Secretary-General Kao Kim Hourn.

The Vietnamese delegation attending the conference was led by Deputy Minister of Industry and Trade Nguyen Hoang Long, along with representatives from the Ministry of Foreign Affairs and units under the Ministry of Industry and Trade.

Deputy Minister of Industry and Trade Nguyen Hoang Long - Head of the Vietnamese delegation attended the Special Consultation Conferences between ASEAN Economic Ministers and partner countries China, Australia - New Zealand, and Japan.

The conferences are held in the context of regional and global economies facing many challenges such as geopolitical tensions, geo-economic dispersion, and US reciprocal tax policies.

At the meeting, the Ministers highly appreciated the initiative to organize these special consultations to discuss and assess the challenges and their impacts on trade, investment and economic integration. At the same time, the Ministers also discussed the strategic approach of ASEAN and its partners to the current unstable economic situation.

The Vietnamese delegation included representatives from the Ministry of Foreign Affairs and units under the Ministry of Industry and Trade.

In addition, at the conference, the Ministers discussed directions to further promote economic, trade and investment cooperation activities between ASEAN and partner countries to better respond to global challenges, turn challenges into opportunities, maintain the stability of the regional supply chain, protect the interests of all parties and reduce negative impacts on businesses and people's lives.

Through 3 Joint Statements, agree to take advantage of FTAs

Speaking at the conferences, Deputy Minister Nguyen Hoang Long shared Vietnam's view that ASEAN (as a united and united bloc) should have a comprehensive, flexible and practical strategic approach in enhancing the autonomy of the intra-bloc economy as well as enhancing economic connectivity with important partner countries to respond to current challenges.

In addition, the Deputy Minister also shared Vietnam's views on the US reciprocal tariff policy.

The Conferences were attended by Economic Ministers of ASEAN member countries, Timor-Leste, Economic Ministers of partner countries and ASEAN Secretary-General Kao Kim Hourn.

Accordingly, Vietnam has had timely, appropriate and flexible policy responses following the motto of persistently and proactively engaging in dialogue and cooperation with the United States to resolve difficulties and obstacles in the spirit of harmonious interests and shared risks; at the same time, focusing on maintaining a healthy international cooperation environment, in accordance with the regulations of the World Trade Organization (WTO), without affecting commitments under existing economic and trade cooperation frameworks with its partners.

On that basis, the two sides are currently negotiating to find suitable and mutually beneficial solutions. The Deputy Minister also emphasized Vietnam's commitment to continue to closely coordinate with ASEAN and partner countries in the coming time to seek cooperation opportunities in potential areas of mutual interest. This includes effectively utilizing the ASEAN-China Free Trade Agreement (ACFTA 3.0) and the Regional Comprehensive Economic Partnership (RCEP) to respond to current challenges, towards a transparent, stable and fair international trade environment.

At the conferences, the Ministers adopted three Joint Statements expressing their views on current developments and trade tensions. The Ministers pledged to further strengthen economic cooperation between ASEAN and partner countries in existing cooperation mechanisms and FTAs, as well as exploit priority areas of mutual interest.

The ASEAN Ministers also reaffirmed their commitment to supporting a rules-based, non-discriminatory, open, fair, inclusive, equitable and transparent multilateral trading system, which is the foundation of global trade.

Hoang Hoa - Can Dung

Source: https://congthuong.vn/bo-truong-kinh-te-asean-va-doi-tac-thong-nhat-3-tuyen-bo-chung-ve-thuong-mai-388467.html