At the conferences, the Ministers adopted three Joint Statements to express their views on current developments and trade tensions; committed to further strengthening economic cooperation between ASEAN and partner countries...
On May 20, special consultations 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 conference was attended by the 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 to the conference was led by Deputy Minister of Industry and Trade Nguyen Hoang Long, along with representatives of the Ministry of Foreign Affairs and units under the Ministry of Industry and Trade.
The conference was 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 Conference, the Ministers highly appreciated the initiative to organize these special consultation conferences to discuss and assess the challenges and their impacts on trade, investment and economic integration; discuss the strategic approach of ASEAN and its partner countries to the current unstable economic situation; discuss the direction to further promote economic, trade and investment cooperation activities between ASEAN and its 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.
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 viewpoint on the US's reciprocal tariff policy. Accordingly, Vietnam has had timely, appropriate and flexible policy responses following the motto of persistently, proactively dialogue and cooperation with the US to resolve difficulties and obstacles in the spirit of harmonious interests and shared risks. At the same time, it focuses 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 appropriate 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, including 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.
Also at the conferences, the Ministers adopted three Joint Statements to express their views on current developments and trade tensions; committed to further strengthening economic cooperation between ASEAN and partner countries in existing cooperation mechanisms and FTAs as well as exploiting priority areas of mutual interest; reaffirmed their commitment to supporting a multilateral trading system based on rules, non-discrimination, openness, fairness, comprehensiveness, equality and transparency, which is the basis of global trade.
Source: Chính Phủ
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<p>Time: 2024 By: Ministry of Industry and Trade</p>
