Vietnam contributes ideas on economic cooperation between ASEAN and partners

Vietnamese representative attends the 19th AEM - European Union (EU) Consultation Conference

Within the framework of the 55th ASEAN Economic Ministers Meeting (AEM 55), on August 20, the AEM Consultation Conference with partners including the European Union (EU), Canada, the World Intellectual Property Organization (WIPO) and Hong Kong (China) took place in Semarang city, Indonesia.

With the participation of Economic Ministers of ASEAN member countries and Economic Ministers of each partner country, the above conferences aim to discuss the regional and global economic situation in recent times, share information and orientations for economic cooperation between ASEAN and its partners in the coming time.

At the AEM-EU Conference, in its role as the coordinator of ASEAN-EU relations, Vietnam coordinated discussions on the implementation of the work in the ASEAN-EU Trade and Investment Work Programme for the 2022-2023 period; oriented the countries to agree to utilize the framework of the ASEAN-EU Joint Working Group on Trade and Investment to discuss, share information and best practices on domestic policies and regulations in areas of cooperation that are mutually beneficial to both sides and adopt the ASEAN-EU Work Programme on Trade and Investment for the 2024-2025 period.

Regarding economic cooperation between ASEAN and Canada, the ministers focused on discussing the progress of negotiations on the ASEAN-Canada Free Trade Agreement (ACaFTA) as well as adopting the report of the chief negotiators on the progress of negotiations on this agreement.

Based on the progress of negotiations, the ministers agreed to adopt a new target to basically conclude ACaFTA negotiations by 2025.

At the ASEAN-WIPO Economic Ministers’ Consultations, the ministers and the WIPO Director General discussed the status of cooperation between ASEAN and WIPO, including issues such as intellectual property as a catalyst for ASEAN to develop into a region of breakthrough innovation; the ASEAN-WIPO Memorandum of Understanding: Reaching new heights in ASEAN-WIPO cooperation; and WIPO’s vision of intellectual property as a driver of inclusive growth and transformation for the benefit of all people everywhere. On the sidelines of the meeting, the ministers attended the launching ceremony of the ASEAN Intellectual Property Registry.

At the AEM-Hong Kong (China) Conference, the ministers focused on discussing the implementation of the ASEAN-Hong Kong Free Trade Agreement (AHKFTA) and the ASEAN-Hong Kong Investment Agreement (AHKIA).

The Ministers noted that the First Protocol amending the AHKFTA, mainly on product-specific rules, had been agreed upon. On that basis, the Ministers agreed to implement domestic procedures to be able to sign this protocol in the near future.

On the sidelines of the conference, the ministers also met and exchanged with the ASEAN-EU and ASEAN-Canada Business Councils, discussing recommendations and priorities for the private sector in the coming time such as enhancing investment and business facilitation, enhancing energy transition and digital economic development, promoting green supply chains, etc.

Participating in discussions at the conference, Vietnam actively contributed opinions on economic cooperation issues between ASEAN and its partners such as the contents discussed in the ASEAN-EU Economic Ministers' Consultation, the status of ACaFTA negotiations, the signing of the ASEAN-WIPO Memorandum of Understanding... to ensure practical goals and benefits for Vietnam in particular and ASEAN in general such as strengthening the regional supply chain and sustainable economic development in the context of unpredictable changes in the world economy.

According to Vietnam+