47th ASEAN Economic Ministers’ Meeting to finalise AEC formation hinh anh 1Illustrative image (Source: VNA)
The 47th ASEAN Economic Ministers’ Meeting, scheduled to be held in Malaysia from August 22-25, will be the final step towards the formation of the ASEAN Economic Community (AEC) by the end of this year. 

Malaysian Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said the meeting will discuss the implementation of AEC measures, especially the completion of commitments agreed under the AEC Blueprint 2015. 

It will also develop the ASEAN Economic Vision through 2025, the Strategic Action Plan for the next 10 years and the ASEAN Small and Medium Enterprises Master Plan from 2016-2025, he noted. 

The AEC seeks to formally establish a single market among the 10 member states of ASEAN, he said, adding that the integration of national economies into a single regional bloc will create a seamless trade and investment regime in ASEAN. 

During the meeting, Mustapa will chair the ASEAN Economic Ministers’ Consultations with the bloc’s dialogue partners, including China, Japan, the Republic of Korea, Australia, New Zealand, India, Canada, Russia and the US. 

The ASEAN economic ministers will also meet 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, to discuss the enhancement of ASEAN’s economic links with its dialogue partners.-VNA