ASEAN DEVELOPS NEW STRATEGIES FOR SUSTAINABLE GROWTH UNDER LAOS' CHAIRMANSHIP

JAKARTA, Sept 23 (Bernama) -- ASEAN is currently working on the ‘Reframed Strategies for Narrowing Development Gaps and Promoting Sustainable and Inclusive Economic Growth in the Region’ under Laos’ chairmanship this year.

These strategies are set to be a game changer, crucial for addressing development gaps among ASEAN member countries, said secretary-general Dr Kao Kim Hourn in a press conference of the 56th ASEAN Economic Ministers’ Meeting and Related Meetings in Vientiane on Sunday. The remarks were published on ASEAN's website.

He said the strategies will also help respond to regional and global challenges, ensuring that ASEAN’s growth remains inclusive, sustainable, and resilient.

“I truly congratulate Laos for raising this issue and giving it the necessary profile, as we still have pockets of poverty in the region,” he said.

He emphasised, “it is important that we pay attention to and prioritise this issue,” following the 56th ASEAN Economic Ministers’ meeting and related meetings.

As the 2025 deadline for the ASEAN Economic Community Blueprint approaches, Kao explained that ASEAN is developing the ASEAN Community Vision 2045, marking the first time the organisation is planning a 20-year vision.

During the meetings, ministers discussed the post-2025 vision for a resilient and innovative ASEAN community as well as holding extensive consultations with stakeholders, including businesses, academics, and parliamentarians, to ensure inclusivity.

On external relations, the ministers reviewed progress on the ASEAN-China Free Trade Area (ACFTA) 3.0 upgrade negotiations, expecting a substantial conclusion by the end of this year.

The meeting noted the completion of a Joint Review Study of the ASEAN-Korea Free Trade Area (AKFTA), which recommends key enhancements.

ASEAN is also negotiating the ASEAN-Canada Free Trade Agreement (ACAFTA), its first trade deal with a North American country, with plans to conclude negotiations by 2025.

Meanwhile, Kao said the ministers discussed deepening integration with ASEAN Dialogue Partners and explored collaboration on trade digitalisation, including the use of e-documents for cross-border trade.

Regarding the Regional Comprehensive Economic Partnership (RCEP), Kao stressed the importance of establishing the RCEP Support Unit to facilitate the implementation of the RCEP Agreement.

“The new Executive Director, Taufiq Wargadalam, has been appointed and will be based at the ASEAN Headquarters in Jakarta,” he added.

-- BERNAMA