Regional Meeting: 30th ASEAN Economic Ministers’ Retreat Meeting

Myanmar delegation led by Union Minister for Investment and Foreign Economic Relations Dr. Kan Zaw attended the 30th ASEAN Economic Ministers’ Retreat Meeting which was held in Luang Prabang, Lao PDR.

On the evening of March 8th, the Union Minister joined the Welcome Dinner. The 30th ASEAN Economic Ministers’ Retreat Meeting took place on the 9th.

As the first part of the Meeting, the ASEAN Economic Ministers interfaced with ASEAN Business Advisory Council, where the priorities in 2024 and recommendations for strengthening regional economic integration and public-private cooperation were presented.

In the second part of the Meeting, the ASEAN Economic Ministers discussed and gave guidance on the activities to be carried out under the ASEAN economic pillar according to the outcomes from the 43rd ASEAN Summits, Lao PDR’s Priority Economic Deliverables (PEDs) for 2024, AEC Annual Priorities for 2024, issues of signing the ASEAN economic agreements, progress of the ASEAN Trade in Goods Agreement upgrade negotiation, progress of the ASEAN Digital Economy Framework Agreement (DEFA) Negotiations, progress in the implementation of initiatives on sustainability under the ASEAN Economic Community, progress of the implementation of the AEC Blueprint 2025 and the development of the economic components of post-2025 AEC, study on New and Emerging Issues in ASEAN Plus One FTAs, progress of the ACFTA 3.0 Upgrade Negotiations and the implementation of the Regional Comprehensive Economic Partnership Agreement.

In addition, during the meeting, the Ministers endorsed the ASEAN Services Facilitation Framework (ASFF).

During the meetings, the Union Minister endorsed Lao PDR’s Priority Economic Deliverables (PEDs) for 2024 together with the other ASEAN Economic Ministers and discussed that these priorities are suitable to be implemented for the current time, stressing the need to consider way to solve the effects that may be encountered in carrying out these priorities.

He also expressed the need to speed up the negotiations for the completion of the ASEAN-China Free Trade Agreement (3.0) upgrade negotiations by 2024. Regarding the establishment of the Regional Comprehensive Economic Cooperation (RCEP) Support Unit, Union Minister highlighted that Myanmar is working with the member countries, and as the member countries, it is crucial to maintain the principles of equality, and mutual obligation and ASEAN centrality.