ASEAN economic ministers ended their virtual 28th AEM Retreat on Wednesday, agreeing to charter ASEAN’s regional work plan for 2022 in setting priorities towards expediting regional economic recovery.

The meeting was chaired by Cambodian Minister of Commerce H.E. Pan Sorasak with all ASEAN Economic Ministers in attendance.

The ASEAN Member States (AMS) agreed to explore further ways to strengthen supply chains in the region in order to bolster economic recovery from the COVID-19 pandemic and respond to supply chain disruptions.

They also launched the ASEAN Trade in Goods Agreement (ATIGA) upgrade negotiations, to maximise the potential of intra-ASEAN trade and deepen economic integration.

The ATIGA upgrade negotiations aim to facilitate trade through addressing non-tariff barriers, promoting transparency, facilitating AMS’ participation in global and regional supply chains, and responding to emerging issues such as digitalisation and the green economy, amongst others.

Recognising the importance of positioning the region for the future, the meeting called for deeper cooperation in the digital and green economies.

“The meeting expressed its full support and unanimity in approving the 19 economic priorities proposed by Cambodia in the 2022 ASEAN Chairmanship and approved the annual priorities of the Inter-sectoral Working Group under the AMS,” said H.E. Pan Sorasak.

The meeting was held in line with the AEM-ASEAN Business Advisory Council (ASEAN-BAC) Consultations, where discussions focused on Cambodia’s ASEAN-BAC Chairmanship in 2022.

Source: Agency Kampuchea Press

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