Vietnam participates 30th ASEAN Economic Ministers’ Retreat in Laos

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan attended the 30th ASEAN Economic Ministers’ Retreat in Luang Prabang, Laos, on March 8-9, during which he expressed Vietnam’s support for Laos' priority economic cooperation initiatives in its ASEAN Chairmanship Year 2024.
Delegates attending 30th ASEAN Economic Ministers’ Retreat. (Source: VNA)
Delegates attending 30th ASEAN Economic Ministers’ Retreat. (Source: VNA)

Tan said that Vietnam is committed to working closely with Laos and other ASEAN countries to fulfill set goals and plans, thus contributing to the overall success of the ASEAN 2024.

He also emphasised the importance of giving priority to recovery activities and connecting economies, especially prioritising resources for new negotiation activities and negotiations to upgrade agreements within ASEAN and between the grouping and partner countries.

At the meeting, participating ministers approved 14 priority economic deliverables (PEDs) put forward by Laos, with focus on three main directions of recovering and connecting economies, creating an inclusive and sustainable future, and transforming towards the digital future.

They also adopted the ASEAN Services Facilitation Framework (ASFF).

Delegates also exchanged other important contents for ASEAN economic cooperation such as the status of negotiations to upgrade the ASEAN Trade in Goods Agreement (ATIGA), negotiations on the ASEAN Digital Economy Framework Agreement (DEFA), the ASEAN Framework Agreement on Competition, the upgrade of the ASEAN-China Free Trade Area (ACFTA), the implementation of the Regional Comprehensive Economic Partnership (RCEP) as well as initiatives on sustainability in the ASEAN Economic Community.

On the sidelines of the meeting, the ministers discussed with the ASEAN Business Advisory Council (ABAC), during which they noted ABAC's priorities for 2024 as well as its recommendations to promote a favourable business environment in ASEAN in the coming time.

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(Source: VNA)