ASEAN economic ministers to meet on August 22-25

The 47th ASEAN Economic Ministers’ Meeting (AEM 47) will be held in Kuala Lumpur from August 22-25 to put the finishing touches on the formal establishment of the ASEAN Economic Community (AEC) by the end of this year.

The 46th ASEAN Economic Ministers’ Meeting in Myanmar last year. (Photo: VNA)

The information was released by Mustapa Mohamed, Malaysian Minister of International Trade and Industry, during a press conference in Kuala Lumpur on August 20.

He said AEM 47 will focus on implementing AEC measures, especially the completion of commitments agreed to under the AEC 2015 Blueprint, and developing the ASEAN Post-2015 Economic Vision 2025, strategic action plans for the next 10 years and the ASEAN Small and Medium Enterprises Master Plan 2016-2025.

Economic ministers from Australia, Canada, China, India, Japan, the Republic of Korea, New Zealand, Russia and the US will participate in the meetings with the ASEAN economic ministers.

The ASEAN economic ministers will also be meeting with representatives from the ASEAN Business Advisory Council, the East Asia Business Council, the Federation of Japanese Chambers of Commerce and Industry in ASEAN, the US-ASEAN Business Council, the Canada-ASEAN Business Council and the ASEAN-India Business Council.

In addition, the EU-ASEAN Business Summit and the East Asia Investment Forum will be held on August 23 and 24, respectively.

Mustapa Mohamed held that the AEC seeks to formally establish a single market and production base among the 10 ASEAN member states, adding that the eventual integration of national economies into a single regional bloc is expected to facilitate the creation of a seamless trade and investment regime in ASEAN.

It will also propel the ASEAN economy, whose GDP currently is estimated at US$ 2.7 trillion, into a global powerhouse with GDP expected to rise to a combined US$ 4.7 trillion by 2020, the official said.

Source:VNA

Other news

Most view

Banking-finance

VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Economy

Vocarimex plans to expand export markets

The Vietnam Vegetable Oil Industry Corporation -Vocarimex (code: VOC) has set its target the 2018 revenue will reach VND 4,8trillion, an increasing of 9 percent compared to 2017 and pre-tax profit target will be VND 300 billlion ($ 13 million), dividend payment ratio at 12 percent.

 

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

BLF & LUT fined VND 145mln

The State Securities Commission of Vietnam (SSC) has just issued administrative fines worth VND 145 million to Bac Lieu Seafood Corp (BLF) and Luong Tai Investment & Construction Corp (LUT).