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ASEAN, Japan adopt COVID-19 economic resilience action plan

Economic ministers in ASEAN member states and Japan approved the ASEAN - Japan Economic Resilience Action Plan at a virtual meeting chaired by Minister of Industry and Trade Tran Tuan Anh on July 29, as part of the efforts to promote solidarity between the two sides in combating COVID-19.
ASEAN, Japan adopt COVID-19 economic resilience action plan ảnh 1Minister of Industry and Trade Tran Tuan Anh chairs a virtual meeting between economic ministers of ASEAN member states and Japan on July 29. (Photo: VNA)

Hanoi (VNA) - Economic ministers in ASEAN member states and Japan approvedthe ASEAN - Japan Economic Resilience Action Plan at a virtual meeting chairedby Minister of Industry and Trade Tran Tuan Anh on July 29, as part of the effortsto promote solidarity between the two sides in combating COVID-19.

Themeeting discussed specific measures to implement “the ASEAN - Japan EconomicMinisters’ Joint Statement on Initiatives on Economic Resilience in Response tothe Corona Virus Disease (COVID-19) Outbreak” adopted by the ASEAN economic ministers and the Japanese Minister of Economy, Trade and Industries in April.

TheAction Plan outlines concrete actions to accomplish three objectives: sustainingthe close economic ties developed by ASEAN and Japan, mitigating the adverseimpact of COVID-19 on the economy, and strengthening economic resilience.

It seeksto strengthen economic integration and cooperation to keep markets open for tradeand investment, with both sides specifically committed to the signing of theRegional Comprehensive Economic Partnership (RCEP) agreement this year.

The twosides also agreed to provide capacity-building assistance to boost business andproduction, including supporting industry, and support regional digital tradetransformation in ASEAN and promote existing trade platforms.

They willalso together promote regional mechanisms such as the ASEAN Single Window, theElectronic Certificate of Origin system, the ASEAN Digital IntegrationFramework (DIF), and the ASEAN Framework on Digital Data Governance.

ASEAN andJapan will enhance information exchange and the sharing of best practices oneconomic policies to manage the COVID-19 pandemic, and public-privatecollaboration efforts to respond to economic and business challenges.

They willinitiate programmes to strengthen supply chain resilience, centred on ASEAN,including through enhancing the participation of businesses and academics./.
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