MOIT VIETNAM | Opening Market And Increasing intra-ASEAN strength
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Opening Market And Increasing intra-ASEAN strength
Minister of Industry and Trade Tran Tuan Anh emphasized that the results achieved at the Meeting of ASEAN Economic Ministers and related conferences (AEM 52) show the great efforts of ASEAN in linking the whole region to overcome the consequences of the Covid-19 pandemic and preparing for a post-epidemic economic recovery as well as trying to make ASEAN a more open economic space.
Implementing on schedule initiatives
Speaking at the international press conference in the morning of 30th August, Minister Tran Tuan Anh said that the most important result achieved at this 52nd AEM Conference for Vietnam is that although ASEAN countries are facing enormous challenges caused by the Covid-19 pandemic, the Asian Ministers agreed to continue promoting the implementation of the economic initiatives and priorities given and chairmaned by Vietnam.
The two completed initiatives include “ASEAN Digital Integration Index” and the “Referent Documents on Connecting ASEAN Innovation and Innovation Centers”. Additionally the remaining 11 initiatives are still being implemented by ASEAN according to the roadmap, which are going to be completed by the end of this year.
ASEAN countries have agreed to deal with the problem through the import tariff schedule to implement the ATIGA Agreement which converts from the list of ASEAN goods (AHTN) version 2012 to the 2017 version of Vietnam; completing the preparation procedure to sign a Mutual Recognition Agreement for Model Certification for ASEAN Motor Vehicle (APMRA); Agree to implement the ASEAN Self-Certification of Origin (AWSC) mechanism from September 20 to here.
Besides that, ASEAN continues discussing and finding solutions to implement the general schedule of the year 2025 ASEAN Economic Community (AEC), especially the mid-term review to adapt the Blueprint 2025 to suit the new regional context as well as help ASEAN overcome challenges on a global scale.
At this meeting, the ASEAN Ministers also agreed to maintain the current commitments on opening mayors in trade and investment, refraining from applying measures that unnecessarily restrict trade, strengthen trade facilitation measures to stabilize production, maintain supply chain connectivity and develop a post-pandemic recovery plan.
RCEP signing is the first Priority
In particular, the ASEAN Economic Ministers agreed to consider the signing of the Regional Comprehensive Economic Partnership (RCEP) to be the first priority by the end of this year, so that the handling of of the remaining issues gets good results including the identification of additional rules for tariff lines, the domestic content of exported products and the end of the legal review. Accordingly, The Ministers discuss carefully to find a solution.
The Ministers also believed that RCEP signing would be the background to strengthen the confidence of the business community and to further sustain the structure of the regional economy as well as show regional support for an open and principles-based multilateral trading system, promote economic recovery after the Covid-19 pandemic to make an important contribution to the stable growth of the regional economy.
For Vietnam, once The RCEP Agreement is signed and put into effect, it will open more opportunities for Vietnamese enterprises to expand their markets, boost exports, participate in new value chains in the region and attract foreign investment. The import tax cut will open up new opportunities for products from prominent sectors such as telecommunications, information technology, textiles, footwear and agriculture ", Minister Tran Tuan Anh emphasized.
Through the AEM 52 Conference and related conferences, Vietnam has shown to play a role as ASEAN Chair by proactively proposing and participating in initiatives to cope with the Covid-19 impact.
Vietnam has been very proactive in implementing its commitments to maintain market openness as committed in its Covid-19 epidemic response initiatives by removing temporary export restrictions on medical masks and rice starting from April and May 2020 to maintain food and health supplies in the region.
Additionally, Vietnam has issued a Circular to allow the acceptance of certificates of origin with electronic signatures and electronic seals or photocopies of certificates of origin since May this year in order to maximize advantage for business and trade in the region and the world in the midst of the Covid-19 pandemic.
With the efforts to maintain cooperation activities in ASEAN, the role and voice of Vietnam has been recognized more and more to contribute to the discussion and unification of ASEAN economic cooperation issues towards ensuring benefits interests of Vietnam as well as ASEAN countries, especially to promote the handling of outstanding issues in the RCEP negotiation and promote countries to affirm their goal of signing the Agreement by the end of this year - one of the economic cooperation priorities of the 2020 ASEAN Chairman of Vietnam.
Source: nhandan
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