Kuala Lumpur (VNA) - Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan led a delegation of Vietnam to the 31st ASEAN Economic Ministers’ Retreat (AEMR-31) that took place in Johor, Malaysia on February 28.

Vietnam actively contributed to the success of the retreat, engaging in discussions across key agenda items, expressing strong support for Malaysia’s economic initiatives and priorities for its 2025 ASEAN Chairmanship, and voicing confidence that Malaysia’s leadership will help ASEAN achieve significant outcomes toward building an ASEAN with “Inclusivity and Sustainability.”

Speaking at the event, Malaysia’s Minister of Investment, Trade and Industry, Tengku Datuk Seri Zafrul Abdul Aziz, praised Laos for its effective role as ASEAN Chair in 2024, helping the bloc achieve important progress in advancing inclusive and sustainable economic development and strengthening regional integration.

Inclusivity and sustainability are guiding principles for ASEAN as it implements its ASEAN Community Vision 2025. Over the past decade, ASEAN has reached notable milestones, including a remarkable economic recovery from the severe impacts of the COVID-19 pandemic. In 2023, ASEAN’s total trade value reached 3.5 trillion USD, with a trade surplus of 96.7 billion USD, he noted.

On the sidelines of the retreat, the Vietnamese official held bilateral meetings with Singapore’s Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, Malaysia’s Deputy Minister of Investment, Trade and Industry Liew Chin Tong, and representatives from other delegations. These meetings focused on enhancing bilateral cooperation and addressing specific trade and investment challenges of mutual concern.

Speaking to the Vietnam News Agency, Luong Hoang Thai, Multilateral Trade Policy Department under the Ministry of Industry and Trade, highlighted Vietnam’s proactive role at the retreat. Vietnam introduced several important initiatives, including proposals related to upgrading the ASEAN Trade in Goods Agreement (ATIGA) and developing the ASEAN Digital Economy Framework Agreement (DEFA). These contributions were well-received by participating delegations. Vietnam also actively supported ASEAN’s efforts to strengthen economic relations with external partners, particularly the Gulf Cooperation Council (GCC).

At the retreat, ministers endorsed 18 economic cooperation initiatives and priorities proposed by Malaysia for its 2025 ASEAN Chairmanship. These focus on boosting trade and investment, developing an inclusive and sustainable economic roadmap, enhancing economic integration and connectivity, and building a resilient ASEAN digital economy.

The retreat also approved the Principles for Negotiating the Upgrade of the ASEAN Framework Agreement on Intellectual Property Cooperation (AFAIPC), officially launching the negotiation process. Delegates further acknowledged a range of ideas, solutions, and strategies aimed at ensuring the successful completion of the ASEAN Economic Community Blueprint 2025, which serves as a foundation for the bloc’s economic development strategy through 2025.

Additionally, the retreat focused on strategies to enhance ASEAN’s economic cooperation in the coming years. These included plans for upgrading ATIGA, advancing negotiations on the ASEAN Digital Economy Framework Agreement, and accelerating the implementation of Malaysia’s economic priorities under the theme “Inclusivity and Sustainability” for 2025.

The ministers agreed on steps to support Timor-Leste’s accession to ASEAN and discussed expanding cooperation with partners such as China, India, Canada, and the US.

As part of the retreat’s side events, ASEAN Economic Ministers held a consultation session with the ASEAN Business Advisory Council (ASEAN-BAC), where they discussed 14 initiatives proposed by ASEAN-BAC for 2025. These initiatives aim to enhance economic cooperation, improve competitiveness, and accelerate digital transformation across the region.

🀅 Concluding the retreat, delegates praised the outcomes achieved and reaffirmed their commitment to building a stronger, more resilient ASEAN Economic Community./.