ASEAN, EU should boost economic, trade cooperation: Minister
Minister of Industry and Trade Tran Tuan Anh proposed ASEAN and the EU beef up economic and trade cooperation at both bilateral and regional levels, with a focus on urgent issues such as supply chains and non-tariff barriers, while addressing the eighth ASEAN-EU Business Summit held online on November 19.
Minister of Industry and Trade Tran Tuan Anh (Source: VNA)Singapore (VNA) - Minister of Industry and Trade Tran Tuan Anh proposed ASEAN and the EU beef up economic and trade cooperation at both bilateral and regional levels, with a focus on urgent issues such as supply chains and non-tariff barriers, while addressing the eighth ASEAN-EU Business Summit held online on November 19.
Anh said the EU was ASEAN’s second-largest trading partner during 2009-2018 and its largest investor.
The EU-Vietnam Free Trade Agreement (EVFTA) has had positive effects on Vietnam’s economy, helping improve the country’s governance and legal framework.
The initial successes of the high-quality FTAs the EU has signed with ASEAN member states will form a foundation for an FTA between the two blocs, in the context of both sides discussing the resumption of talks over an agreement, he added.
Delegates exchanged ideas on how to boost digital transformation and digital economic development and have a sustainable health care system at an appropriate cost given COVID-19.
They also discussed opportunities for European businesses during ASEAN’s post-pandemic economic recovery.
Singaporean Minister for Trade and Industry Chan Chun Sing reaffirmed that the EU and ASEAN can be connected by digital platforms and standards instead of divided by geographical distance.
A Digital Economy Agreement would be an important step towards digital connectivity between the two blocs, he said./.
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