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Vietnam boosts regional cooperation initiatives

Minister of Industry and Trade Vu Huy Hoang attended the 44th ASEAN Economic Ministers’ Meeting (AEM 44) and related meetings that took place in Siem Reap, Cambodia, from August 26-31.
Minister of Industry and Trade Vu Huy Hoang attended the 44th ASEANEconomic Ministers’ Meeting (AEM 44) and related meetings that tookplace in Siem Reap, Cambodia, from August 26-31.

This is an important annual meeting for economic ministers of 10 ASEAN countriesand partners to discuss the situation of economic cooperation insidethe bloc and with partners as well as prepare contents for the 21stASEAN Summit and related meetings in coming November.

AtAEM 44 and related meetings, Vietnam actively joined other ASEAN membernations to discuss measures to speed up the top priority of buildingthe ASEAN Economic Community (AEC) by 2015.

Vietnam is among four countries with the highest rate of implementing a coherent plan to establish the AEC in the bloc.

Vietnam has joined other ASEAN countries to promote countriesin soon issuing tariff schedule, under the ASEAN Trade in GoodsAgreement (ATIGA), helping export businesses benefit from originalagreements.

Vietnam supports efforts to carry out the ASEAN Single Window Initiative (ASW) and eliminate non-tariff barriers.

Vietnam also proposed ASEAN implement the ASEAN framework for an equitable and sustainable development, contributing to narrow the development gap among countries.

Basedon Vietnam’s proposal, ASEAN nations reached consensus on speeding upthe building of an action plan on sustainable development, includingspecific measures and programmes to help Cambodia, Laos, Myanmar andVietnam to narrow their development gap with the remaining six ASEANnations, contributing to building a sustainable ASEAN Community.

At the meeting, Vietnam together with ASEAN member countriesand partners promoted the implementation of the ASEAN Framework forRegional Comprehensive Economic Partnership (RCEP), with the aim toestablishment an agreement affirming the core role of ASEAN member countries in the joint economic structure within Asia-Pacific.

Vietnam also continues fostering cooperation initiatives betweenCambodia, Laos, Myanmar and Vietnam (CLMV) at the fourth CMLV EconomicMinisters’ Meeting. At the event, they were unanimous in annualcooperation programmes, such as conference on market managementcooperation, and e-commerce development, specific trade fairs and humanresources development scholarship programme.

On the sidelines of the AEM 44, Minister Hoang held bilateral meetings with representatives from some ASEAN countries to discuss issues on speeding up trade and economic ties.

ASEANeconomic integration always plays an important role in Vietnam’seconomic policy. ASEAN is now the country’s second largest tradingpartner, with the 2011’s two-way turnover reached 35.3 billion USD. Theassociation is the third biggest importer and also the second biggestproduct supplier to Vietnamese businesses.-VNA

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