Minister of Industry and Trade Vu Huy Hoang attended the 44th ASEAN Economic Ministers’ Meeting (AEM 44) and related meetings that took place in Siem Reap, Cambodia, from August 26-31.

This is an important annual meeting for economic ministers of 10 ASEAN countries and partners to discuss the situation of economic cooperation inside the bloc and with partners as well as prepare contents for the 21st ASEAN Summit and related meetings in coming November.

At AEM 44 and related meetings, Vietnam actively joined other ASEAN member nations to discuss measures to speed up the top priority of building the ASEAN Economic Community (AEC) by 2015.

Vietnam is among four countries with the highest rate of implementing a coherent plan to establish the AEC in the bloc.

Vietnam has joined other ASEAN countries to promote countries in soon issuing tariff schedule, under the ASEAN Trade in Goods Agreement (ATIGA), helping export businesses benefit from original agreements.

Vietnam supports efforts to carry out the ASEAN Single Window Initiative (ASW) and eliminate non-tariff barriers.

Vietnam also proposed ASEAN implement the ASEAN framework for an equitable and sustainable development, contributing to narrow the development gap among countries.

Based on Vietnam’s proposal, ASEAN nations reached consensus on speeding up the building of an action plan on sustainable development, including specific measures and programmes to help Cambodia, Laos, Myanmar and Vietnam to narrow their development gap with the remaining six ASEAN nations, contributing to building a sustainable ASEAN Community.

At the meeting, Vietnam together with ASEAN member countries and partners promoted the implementation of the ASEAN Framework for Regional Comprehensive Economic Partnership (RCEP), with the aim to establishment an agreement affirming the core role of ASEAN member countries in the joint economic structure within Asia-Pacific.

Vietnam also continues fostering cooperation initiatives between Cambodia, Laos, Myanmar and Vietnam (CLMV) at the fourth CMLV Economic Ministers’ Meeting. At the event, they were unanimous in annual cooperation programmes, such as conference on market management cooperation, and e-commerce development, specific trade fairs and human resources development scholarship programme.

On the sidelines of the AEM 44, Minister Hoang held bilateral meetings with representatives from some ASEAN countries to discuss issues on speeding up trade and economic ties.

ASEAN economic integration always plays an important role in Vietnam’s economic policy. ASEAN is now the country’s second largest trading partner, with the 2011’s two-way turnover reached 35.3 billion USD. The association is the third biggest importer and also the second biggest product supplier to Vietnamese businesses.-VNA