At a meeting in Singapore (Source: VNA) Singapore (VNA) – A Vietnamese delegation led by Deputy Minister of Industry and Trade Tran Quoc Khanh attended the ASEAN Economic Community Council Meeting and the Preparatory Meeting of the ASEAN Economic Ministers’ Meeting in Singapore on November 12. Deputies discussed issues regarding economic and trade cooperation, as well as intra-bloc investment; reviewed Singapore’s priorities and initiatives for 2018; and updated the progress of activities towards achieving the ASEAN Economic Community 2025 goals. Such contents will be submitted to the 33rd ASEAN Summit and related meetings from November 13-15. Ministers agreed on the fourth protocol amending the ASEAN Comprehensive Investment Agreement, which will promote the construction of an open, free, and transparent investment region that is pointed towards global integration. Regarding the ASEAN Trade in Services Agreement – one of Singapore’s … [Read more...] about Vietnam attends ASEAN economic meetings in Singapore
Asean economic community
50th ASEAN Economic Ministers Meeting opens in Singapore
Delegates take a photo at the opening (Photo: VNA) Singapore (VNA) – The 50th ASEAN Economic Ministers (AEM 50) Meeting and Related Meetings kicked off in Singapore on August 29 with the participation of economic leaders from 10 ASEAN member states and partner countries. The Vietnamese delegation, led by Deputy Minister of Industry and Trade Tran Quoc Khanh, participated in the meetings. In his speech at the opening ceremony, Singaporean Prime Minister Lee Hsien Loong highlighted the establishment and development of the Association of Southeast Asian Nations (ASEAN). He said the bloc has tremendous economic potential with a strong market of over 630 million people. The grouping’s GDP growth has averaged 5.4 percent in recent years, well above the global average, and is projected to expand around this rate over the next five years, he noted. ASEAN is forecast to become the fourth-largest economy in the world by 2030, just behind the US, China and the European … [Read more...] about 50th ASEAN Economic Ministers Meeting opens in Singapore
ASEAN economic integration achievements and VN’s participation
Minister of Industry and Trade Tran Tuan Anh. Photo: VGP The following is the translated version of his article: The year 2018 marks the 11th anniversary of Viet Nam’s accession to the World Trade Organization, 20th anniverarsary of Viet Nam’s participation in the Asia-Pacific Economic Cooperation (APEC), 23rd anniversary of Viet Nam’s official admission to the Association of Southeast Asian Nations (ASEAN), and 51st founding anniversary of the bloc. ASEAN was established in Bangkok on August 8, 1967 with the aim of rallying political power in order to promote economic cooperation and development towards shared prosperity and ensure peace and stability in Southeast Asia. The five original members, namely Indonesia, Malaysia, the Philippines, Singapore and Thailand agreed on the signing of the ASEAN Declaration. It was followed by the enlargement of ASEAN with Brunei joining the bloc on January 8, 1984, Viet Nam on July 28, 1995, Laos and Myanmar on July 23, 1997 … [Read more...] about ASEAN economic integration achievements and VN’s participation
ASEAN approves economic cooperation priorities for regional connectivity
ASEAN representatives at the 24th ASEAN Economic Ministers’ Retreat (Photo: AFP/ VNA) On the sideline of the 24th ASEAN Economic Ministers’ Retreat (AEM Retreat 24), in Singapore on Friday, Deputy Minister of Industry and Trade Tran Quoc Khanh said Vietnam is among the leading nations in implementing the commitments to the establishment of the ASEAN Economic Community (AEC). According to him, Vietnam has collaborated with other ASEAN countries in finalizing the Trade Facilitation Index (TFI). On this basis, ASEAN will give recommendations to each nation on measures to be improved to reach the goals of reducing 10 percent in trade costs by 2020 and doubling the intra-bloc trade value by 2025. Vietnam has also proactively implemented the initiative on the ASEAN Wide Self-Certification, which aims to replace two other pilot mechanisms on self-certification. The initiative will help Vietnamese entrepreneurs self–certify their products to ship to nine … [Read more...] about ASEAN approves economic cooperation priorities for regional connectivity
Singapore calls on ASEAN members to keep pursuing deeper economic integration, liberalization
He made the statement when delivering opening remarks at the 24th ASEAN Economic Ministers' (AEM) Retreat on March 1 morning, in which the ministers will discuss matters related to the ASEAN Economic Community (AEC), including the implementation of the AEC Blueprint 2025 in deepening economic integration. ASEAN refers to the Association of Southeast Asian Nations, which groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. The Singaporean minister said that ASEAN, as a well-connected region, is poised to benefit from the rise in investment, manufacturing activities and trade, and will benefit from pushing forward the implementation of the AEC. He quoted experts as saying that ASEAN is expected to become the fourth largest economy in the world by 2030, as the young population, growing middle class, and rapidly increasing urbanization build up ASEAN's potential that has yet to be fully realized. ASEAN economic … [Read more...] about Singapore calls on ASEAN members to keep pursuing deeper economic integration, liberalization