Bangkok, 8 Oct – ‘Pichai’ visits Lao PDR to join the ‘ASEAN Economic Community Council’ meeting, AEC Council, 24th time, to summarize the results of the economic pillar before presenting to the ASEAN leaders’ forum on 9 Oct. by expediting the conclusion of the ASEAN Trade in Goods Agreement (ATIGA), cooperation to reduce burning in agricultural areas.
Mr. Pichai Naripthaphan, Minister of Commerce, revealed after attending the 24th AEC Council meeting on October 7, 2024 in Vientiane, Lao PDR, that they discussed the direction of ASEAN amidst the current global economy. Although the global economy grew at a low rate of 3.2% due to risk factors such as new trade regulations and intensifying geopolitical tensions, the ASEAN economy still grew at a rate of 4.6% in 2024, which was higher than the previous year. The meeting agreed to strengthen the integration, focus on intra-regional trade, and accelerate the conclusion of the results of the upgrade of the ASEAN Trade in Goods Agreement (ATIGA) and create new com
petitiveness with the digital economy. The meeting discussed the approach to push the negotiation of the ASEAN Digital Economy Agreement to progress at least 50% this year.
Mr. Pichai said that the joint meeting screened important results of operations under the economic community pillar in 2024, summarizing the results of negotiations to upgrade the ASEAN-China free trade agreement, developing policy indicators for the development of ASEAN SMEs, and preparing a report to prepare for the review of the ASEAN Framework Agreement on Intellectual Property Cooperation, as well as monitoring the progress of operations in various areas under the economic community pillar, such as digital transformation, especially the development of the establishment of the ASEAN Business Registration Number (UBIN), cross-border payments, and sustainability issues, especially the development of the circular economy roadmap, cooperation in the marine economy, sustainable investment and agriculture, and carbon neutrality, which has a
pproved the TOR for the ASEAN Working Group on Carbon Neutrality to be a mechanism for overseeing and determining the carbon neutrality roadmap. Such operations will be an important mechanism for moving towards a digital community and an ASEAN economy that is environmentally friendly.
In addition, they discussed the guidelines for the preparation of the strategic plan of the economic pillar for the ASEAN Vision 2045, and prepared to present the results of the operations to the 44th and 45th ASEAN Leaders’ Meetings during October 9-11. They agreed and endorsed 5 main economic outcome documents, such as narrowing the development gap in ASEAN, focusing on human resource development and digitalization and technology utilization, the ASEAN Leaders’ Declaration on Strengthening Supply Chain Connectivity, etc., emphasizing negotiations and improvements in internal and external free trade agreements of ASEAN, as well as the outcome document on sustainable agricultural development, especially guidelines for reducing
burning in agricultural areas. -511-Thai News Agency
Source: Thai News Agency