ASEAN, Australia, New Zealand talk to boost trade links
The 21st Consultation Meeting between ASEAN Economic Ministers and Economic Ministers from Australia-New Zealand Closer Economic Relations (ASEAN-CER 21) took place in Vientiane, Laos on August 4.
Officials at 21st AEM-CER Consultations (Source: VNA)
Vientiane (VNA) - The 21st Consultation Meeting between ASEAN Economic Ministers and Economic Ministers from Australia-New Zealand Closer Econo♉mic Relations (ASEAN-CER 21) took place in Vientiane, Laos on August 4.
During the meeting, which was part of the ongoing 48th ASEAN Economic Ministers’ Meeting and related meetings, participants focused their discussion on the ASEAN Economic Community (AEC) Blueprint 2025, affirming that this will help the AEC become an area with high competitiveness and close connection by 2025.
Officials agreed that the Blueprint has great potential for promoting trade and investment links between ASEAN and the two countries.
Australia and New Zealand officials stated that their countries are supporting the AEC through the implementation of the ASEAN - Australia - New Zealand Free Trade Area (AANZFTA).
Ministers debated future orientations for the trilateral agreement, agreeing that an overall examination for this agreement can be carried out in 2017.
While applauding close cooperation among the three sides to facilitate the implementation of the first Protocol of amending the Agreement establishing the AANZFTA, ministers acknowledged the priorities of the AANZFTA are to foster and and further deepen investment and trade connections among the parties.
Participants highlighted the significance of economic cooperation in the framework of the AANZFTA Economic Support Programme (AECSP), saying that it plays a crucial role in implementing the AANZFTA, especially in terms of rules of origin (ROO), service, investment, intellectual property and competition.
Trade value between ASEAN, Australia and New Zealand hit 60.3 billion USD, accounting for 2.6 percent of ASEAN’s total trade turnover. Foreign direct investment (FDI) from Australia and New Zealand to the bloc reached 7.4 billion USD last year, making up 6.2 percent of total FDI poured into ASEAN in the year.
Australia was ASEAN’s 7 th largest trade partner in 2015 with two-way trade hitting 51.8 billion USD. Meanwhile trade turnover between ASEAN and New Zealand was valued at 8.5 billion USD in the period.-VNA
The 48th ASEAN Economic Ministers’ Meeting kicked off in Vientiane, Laos on August 3, focusing on economic cooperation among the 10 member countries as well as between the group and its partners.
Economic ministers and deputy ministers from the Association of Southeast Asian Nations (ASEAN) mulled several important matters during the 48 th ASEAN Economic Ministers’ Meeting.
Korean Minister of Trade, Industry and Energy Joo Hyung-hwan has hailed the establishment of the ASEAN Economic Community in 2015 as a great turning point in regional economic integration.
The 19th consultation between ASEAN economic ministers and ministers from ASEAN’s partner countries of China, Japan and the Republic of Korea (RoK) was held in Vientiane, Laos, on August 4.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
Laos declared the transfer of the press management functions of five key media agencies and associated personnel to the Propaganda and Training Board of the Lao People's Revolutionary Party Central Committee.
Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
The target is to be completely free from plastic waste within two years. This can only be achieved if all parties implement the initiative with strong discipline.
Indonesia is taking new steps to improve protections for fishery workers, amid concerns over low wages, harsh working conditions, and limited access to social welfare.
The 2025 ASEAN- the Republic of Korea (RoK) Connectivity Forum that opened in Jakarta on June 17 reaffirmed a shared commitment to shaping a connected, resilient future by advancing the ASEAN Connectivity Strategic Plan.
The desk will serve as a service centre providing market intelligence, business licensing guidance, facilitating business cooperation, identifying potential investment projects, and harmonising regulatory policies between the two parties.
Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
Officials at 21st AEM-CER Consultations (Source: VNA)
