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ASEAN economic ministers to charter regional work plan for 2022 during AEM Retreat

Senior Minister and Minister of International Trade and Industry, Datuk Seri Mohamed Azmin Ali and other ASEAN Economic Ministers are expected to charter ASEAN’s regional work plan for 2022 during the virtual 28th ASEAN Economic Ministers’ (AEM) Retreat, which will be held on Wednesday (March 16).

In a statement Tuesday, the Ministry of International Trade and Industry (MITI) said the retreat would also continue the discussions in setting priorities towards expediting regional economic recovery.

“Under the theme ‘ASEAN A.C.T.: Addressing Challenges Together’, Cambodia as chair of ASEAN 2022, will present 19 Priority Economic Deliverables (PEDs), anchoring on four thrusts: Enhancing Digital Connectivity, Science and Technology; Narrowing the Development Gap for ASEAN’s Competitiveness; Promoting a more Integrated, Inclusive, Resilient and Competitive ASEAN; and Strengthening Global ASEAN for Growth and Development,” it said.

MITI said the PEDs proposed by Cambodia are aptly positioned within the larger recovery and growth agenda that is being pursued by ASEAN.

“Moving forward, Economic Ministers of ASEAN are expected to endorse the PEDs and recommend the way forward for its successful implementation,” it said.

The ASEAN Economic Ministers are also expected to announce the launch of the ASEAN Trade in Goods Agreement (ATIGA) Upgrade Negotiations.

“After more than a decade of ATIGA implementation, the upgrade negotiations, being one of the PEDs for this year, are timely to ensure that ATIGA remains relevant in transforming the region into a more integrated and cohesive economy.

“This is crucial as ASEAN continues to sustain high economic growth and resilience in the face of global economic shocks and volatility,” it said.

  • The Edge Markets