ASEAN, UK hold online economic dialogue
Hanoi (VNA) – The Association of Southeast Asian Nations (ASEAN) and the UK held an online economic dialogue on August 26 as part of the 52nd meeting of the ASEAN Economic Ministers (AEM-52), under the coordination of Minister of Industry and Trade Tran Tuan Anh and British Secretary of State for International Trade Elizabeth Truss.
The two
sides expressed their concerns over the impact of the COVID-19 pandemic on
their economic growth and development.
They
pledged to join hands to maintain and further deepen the bilateral economic
partnership, mitigate the impact of COVID-19 on the economy, and continue
pursuing open and transparent economic policies.
The two
sides recognised their bilateral long-standing relations. Two-way trade
reached approximately 42 trillion pounds (53.7 billion USD) over the past half century.
They
agreed to push ahead with cooperation and support trade liberisation based on
the multilateral trade system of the World Trade Organisation (WTO).
On the
basis of the Hanoi action plan strengthening ASEAN economic cooperation and
promoting supply chains to cope with the COVID-19 pandemic, the two sides
agreed to strengthen supply chains during and after the pandemic. as well as future
cooperation orientations to support these chains.
ASEAN
and UK also look to enhance collaboration in digital innovation to revive the
economy post-pandemic, prioritising small- and medium-sized enterprises and
household businesses.
The UK side emphasized that
the Master Plan on ASEAN Connectivity to 2025 is the basis for the bloc to
propose bilateral cooperation plans.
The UK has set up a fund
for ASEAN’s economic reform programme worth 19 million pounds, focusing on
digital innovation, logistics, and policy mechanism reforms./.