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ASEAN speeds up FTA negotiations with Canada

The Association of Southeast Asian Nations (ASEAN) has continued to strengthen economic cooperation through the ASEAN-Canada Free Trade Agreement (ACAFTA) negotiations to respond to the impacts of the ongoing global economic slowdown.
ASEAN speeds up FTA negotiations with Canada ảnh 1Head of the Centre for Bilateral Regional Policy of the Indonesian Finance Ministry’s Fiscal Policy Agency Nella Sri Hendriyetty speaks at the Plenary and Caucus Meeting of the ACAFTA Sub Working Group on Financial Services  from May 22–24, 2023. (Photo: antaranews.com)
Jakarta (VNA)- The Association of Southeast Asian Nations (ASEAN) hascontinued to strengthen economic cooperation through the ASEAN-Canada FreeTrade Agreement (ACAFTA) negotiations to respond to the impacts of the ongoingglobal economic slowdown.

According to Nella Sri Hendriyetty, head of theCentre for Bilateral Regional Policy of the Indonesian Finance Ministry’sFiscal Policy Agency (BKF), the negotiations are important for Indonesia toexpand market access for both goods and services.

In her opening remarks at the Plenary and Caucus Meeting ofthe ACAFTA Sub Working Group on Financial Services held in Bantenprovince from May 22–24, Nellaaffirmed that the effort could also increase competitiveness and help Indonesia enterglobal and regional value chains.

With the presence of representatives from ASEANmember countries, the ASEAN Secretariat, and Canada, the meeting was akey part of the ACAFTA negotiation process that aims to encourage economicgrowth, increase investment, and improve market access for Southeast Asiancountries and Canada.

At the meeting, officials from institutions in charge offinancial services of the ASEAN countries and Canada discussed various financialservice provisions, which are expected to increase fair trade and investmentfor all parties in the sector./.

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