Union Minister for Investment and Foreign Economic Relations attends 28th ASEAN Economic Ministers’ Retreat Meeting


Union Minister for Investment and Foreign Economic Relations U Aung Naing Oo participated in the 28th ASEAN Economic Ministers’ Retreat Meeting which was virtually held on 16 March 2022.
The Meeting was chaired by Mr Pan Sorasak, Minister of Commerce of the Kingdom of Cambodia and attended by ASEAN Economic Ministers, the ASEAN Secretary-General , Senior Economic Officials (SEOM) and representatives from ASEAN Countries.
At the meeting, Ministers endorsed nineteen Priority Economic Deliverables (PEDs) under Cambodia’s ASEAN Chairmanship in 2022. With regard to 2022 Annual Priorities under the implementation of AEC Blueprint 2025, the ministers urged relevant sectoral bodies to exert their efforts for the timely completion of these Annual Priorities. In addition, the ministers noted the recommendations from the 41st High-level Task-force on ASEAN Economic Integration.
In his statement, Union Minister welcomed and supported Cambodia’s PEDs and highlighted the development of a digital startup ecosystem Framework, the development of sustainable agriculture guidelines and the study towards the formulation of a sustainable tourism framework as the good foundations for ASEAN in addressing the challenges of a long-standing pandemic. And, Union Minister reaffirmed to work closely with all ASEAN Member States for the timely completion of PEDs.
Deputy Minister for Investment and Foreign Economic Relations, U Than Aung Kyaw, represented the Union minister at the afternoon session of the 28th ASEAN Economic Ministers’ Retreat.
In the session, the Ministers noted the implementation status of the ASEAN Comprehensive Recovery Framework (ACRF) which is a whole community approach to support ASEAN’s economic recovery efforts from the pandemic. Then, Ministers exchanged views on digital transformation efforts and economic recovery works of ASEAN and announced the launch of the ASEAN Trade in Good Agreement (ATIGA) upgrade negotiations. The Ministers agreed to extend the life span of the Memorandum of Understanding (MOU) on the Implementation of the Non-Tariff Measures on Essential Goods.
The ministers also frankly shared their views on the economic consequences of the Russia-Ukraine Conflict.
Before the 28th ASEAN Economic Ministers’ Retreat meeting, the ASEAN Economic Ministers’ interface with the representatives of the ASEAN Business Advisory Council (ASEAN-BAC) was held. U Than Aung Kyaw, Deputy Minister for Investment and Foreign Economic Relations attended the interface session with the economic ministers from the ASEAN Member States. At the session, Mr Neak Oknha Kith Meng, chairman of ASEAN Business Advisory Council (ABAC) and its members presented ABAC’s priorities and initiatives for 2022 and the suggestions for strengthening ASEAN economic integration.
At the meeting, Deputy Minister highlighted the importance of maintaining ASEAN centrality and strengthening ASEAN solidarity for overcoming the economic challenges, and discussed the post-pandemic economic recovery efforts.
The Ministers highlighted the importance of Public-Private cooperation in implementing the ASEAN Economic Community and welcomed the private sector’s contribution in regional economic recovery efforts in responding to the pandemic.
Permanent Secretary, Ministry of Investment and Foreign Economic Relations, Director- General, Foreign Economic Relations Department and the senior officials also attended the meeting.—MNA

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