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Ratifying economic priorities at the 29th ASEAN Economic Ministers Retreat
Amid Indonesia’s ASEAN Chairmanship in 2023, the Trade Minister held the 29th ASEAN Economic Ministers (AEM) Retreat Meeting, which took place on Wednesday in Magelang, Central Java
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mid Indonesia’s ASEAN Chairmanship in 2023, the Trade Minister held the 29th ASEAN Economic Ministers (AEM) Retreat Meeting, which took place on Wednesday in Magelang, Central Java. During the meeting, Indonesia successfully encouraged other economic ministers from ASEAN to ratify seven Economic Priority Achievements within the concrete scope of the AEM. The 29th AEM Retreat was led by the Indonesian Minister of Trade, Zulkifli Hasan.
"The 29th AEM Retreat is the first meeting at the level of ASEAN economic ministers on Indonesia's 2023 ASEAN Chairmanship. This meeting is an important opportunity because Indonesia has succeeded in encouraging ministers to ratify seven Economic Priority Achievements and 48 Annual Priorities for 2023," said minister Zulkifli Hasan.
The seven economic priorities consists of the Service Facilitation Framework in ASEAN; the signing of the 2nd Amendment Protocol of the Agreement on the Establishment of the ASEAN-Australia-New Zealand Free Trade Area; the establishment of the Approval Support Unit for the Ministry of Regional Comprehensive Economy (RCEP) at the ASEAN Secretariat in Jakarta; the project-based ASEAN Industrial Development; the full implementation of Form D Electronic Certificate of Origin through the ASEAN Single Window; the statement of ASEAN leaders to develop an ASEAN Digital Economy Framework Agreement (DEFA); and the road map for harmonizing ASEAN standards to support the sustainable development goals.
On the same day, the ministers held a consulting session with the ASEAN-Business Advisory Council (ASEAN-BAC) that focuses on the five issues regarding digital information: sustainable growth, resilient health, food security as well as trade and investment facilitation.
"The ASEAN-BAC meeting aims to encourage increased trade in ASEAN and strengthen cooperation and collaboration between the government and business actors," said minister Zulkifli Hasan.
Other important issues discussed include the latest developments in the Digital Economy Framework Agreement (DEFA) study; upgrading the agreement on trade in goods in ASEAN (ATIGA); FTA priorities for 2023, which includes upgrading the ATIGA; upgrading ASEAN and the China Free Trade (ASEAN-China FTA); the RCEP implementation; as well as the road map of Timor Leste's membership in ASEAN.
The meeting is the first that involves Timor Leste at the ASEAN economic ministers level as the 11th member country, attended by the Tourism, Trade and Industry minister of Timor Leste, Jose Lucas do Carno da Silva.
