Greatest efforts towards AEC 2015

08:32 | 01/09/2014 Cooperation

(VEN) - The 46th ASEAN Economic Ministers’ Meeting (AEM-46) of the Association of Southeast Asian Nations (ASEAN) and relevant meetings took place from August 24-28 in Nay Pyi Taw, Myanmar in order to discuss the situation of intra-economic cooperation between ASEAN and partner countries and prepare for the 25th ASEAN Summit in November.

The second East Asia Summit Economic Ministers’ Meeting in Nay Pyi Taw, Myanmar


Ministers affirmed that ASEAN needed to continue making greater efforts towards the goal of establishing the ASEAN Economic Community (AEC) by 2015. To date, ASEAN has completed 82.1 percent of workload based on the 2012 Phnom Penh Agenda.

Ministers noted positive outcome of tariff liberalization, especially the elimination of import taxes. Cooperation contents such as eliminating non-tariff barriers, piloting self-certification of origin, establishing ASEAN trade database, implementing the ASEAN one-door mechanism and harmonizing standards also achieved positive progress.

Ministers also highly appreciated the completion of the ninth package of commitments under the ASEAN Framework Agreement on Services (AFAS). In terms of investment, ministers signed the protocol on amending the ASEAN Comprehensive Investment Agreement (ACIA), contributing to creating more favorable conditions for the investment environment.

Reviewing cooperation in such fields of intellectual property, competition, consumer protection, connectivity, infrastructure development and small and medium-sized enterprises was done at the meeting.

Ministers also attended relevant meetings such as AFTA Council Conference, consultative conference between ASEAN and partners, East Asia Summit, the second Regional Comprehensive Economic Partnership (RCEP) and dialogue sessions between ministers and business communities of partner countries.

Ministers confirmed that ASEAN desired to promote cooperation and partnership with dialogue nations. In addition, ministers focused on reviewing the situation of rounds of negotiations of free trade agreements as well as cooperation issues between ASEAN and partners in order to promote trade, investment and economic cooperation in the region.

Ministers also approved the orientation program after 2015 for AEC, the ASEAN Qualifications Reference Framework (AQRF), economic cooperation documents for the ASEAN–China Free Trade Area (ACFTA) and tool set for the ASEAN Framework for Equitable Economic Development (AFEED).

Promoting investment and trade

Actively integrating into ASEAN remains Vietnam’s consistent policy. At the meeting, Vietnam actively discussed measures to promote the establishment of AEC by 2015 and strengthen cooperation with partners.

Minister of Industry and Trade Vu Huy Hoang participated in many meetings with other countries’ ministers in order to promote economic cooperation and bilateral trade. He discussed important contents such as completing rounds of negotiations on free trade agreements between Vietnam and the Republic of Korea and the Customs Union of Russia, Belarus and Kazakhstan as well as the Trans-Pacific Partnership (TPP) Agreement. Minister of Industry and Trade Vu Huy Hoang also participated in meetings with Indonesian, Malaysian and Filipino ministers to deploy a number of agreements to promote rice and agricultural product exports to those countries./.

By Hung Cuong