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Meeting discusses ASEAN’s economic priorities for 2020

The 10th Meeting of the Committee of the Whole for the ASEAN Economic Community (CoW 10) was held in Hanoi on January 11 by the Vietnamese Ministry of Industry and Trade.

The event took place on the third working day of a series of meetings within the framework of the ASEAN economic cooperation in 2020.

Chaired by ASEAN Deputy Secretary-General Aladdin Rillo, it saw the presence of senior officials in the three pillars (politics – security, economy, and culture – society) of the ASEAN Community; chairpersons of the ASEAN Economic Community’s specialised groups; and representatives of the ASEAN Business Advisory Council.

According to the Multilateral Trade Policy Department under the Ministry of Industry and Trade, the CoW 10 focused on coordinating ASEAN’s activities relevant to the pillar of economy.

The meeting discussed the bloc’s main economic priorities for 2020 proposed by Vietnam, priorities in the two other pillars and their relations with the proposed priorities in the pillar of economy.

Participants also looked into the enhancement of the intra-ASEAN connectivity; the fourth industrial revolution and the digitalisation of economy in the ASEAN Economic Community; along with the priorities in certain fields in 2020 such as trade, investment, services, trade facilitation, consumer protection, intellectual property, the ASEAN single window, and quality standards.

Besides, they deliberated the building of a platform for coordinating activities of the ASEAN Economic Community and settling related issues, which requires coordination among the committees and working groups in charge of different fields so as to promote the grouping’s economic integration in a more effective manner.

At the meeting, Vietnam, as ASEAN Chair in 2020, introduced and chaired talks on the initiatives for the pillar of economy this year. These initiatives focus on promoting the intra-ASEAN connectivity, enhancing the partnership for peace and sustainable development, and improving ASEAN’s adaptability and operational efficiency in the time ahead.

With 14 draft initiatives proposed right from the year’s beginning, Vietnam hopes to ensure that its 2020 ASEAN Chairmanship will push ahead with the formation of an economy community that plays the central role in regional and global cooperation frameworks.

Outcomes of the CoW 10 will be reported to the ASEAN senior officials’ meeting on January 12.