ASEAN seeks stronger economic partnerships with RoK, Russia hinh anh 1Minister of Industry and Trade Nguyen Hong Dien (R) at the meeting. (Photo: VNA)
Phnom Penh (VNA) – Economic ministers of ASEAN countries and the Republic of Korea (RoK) discussed the directions of negotiations for the upgrade of the ASEAN-Korea Free Trade Agreement (AKFTA) during their consultation meeting in Siam Reap, Cambodia, on September 16 within the framework of the 54th ASEAN Economic Ministers’ Meeting (AEM-54).

The ministers reviewed bilateral cooperation activities over the past time, including the Technology Advice and Solutions from Korea (TASK) programme, the initiative on setting up the ASEAN-Korea Industrial Innovation Centre (AKIIC), as well as the conducting of a feasibility study on the establishment of a ASEAN-Korea Standardisation Research Centre (AKSRC).

They also listened to a number of proposals and new initiatives from the ASEAN-Korea Business Council (AKBC) on the strengthening of capacity for small and medium-sized enterprises, and cooperation in industry.

At their consultation meeting, economic ministers of the ASEAN nations and Russia recognised the progress of the ASEAN-Russia working programme for the 2021-2025 period and the cooperation programme between the ASEAN and the Eurasian Economic Commission, while discussing areas of strategic economic cooperation in the future.

At these meetings, the Vietnamese delegation, led by Minister of Industry and Trade Nguyen Hong Dien, actively contributed ideas on the economic cooperation orientations between ASEAN and its partners in the future, bringing benefits to Vietnam and ASEAN in general, and reinforcing the regional supply chains and boosting sustainable economic development amid the changing economic situation in the region and the world. 

AEM-54 is being held in Siam Reap until September 18./.