ASEAN Affairs: 54th Economic Ministers’ Meeting And Related Meetings

The delegation led by Myanmar AEM Lead, Union Minister for Investment and Foreign Economic Relations Dr. KanZaw participated in the 54th ASEAN Economic Ministers’ Meeting and related meetings held on Wednesday in Siem Reap of Cambodia.

Prime Minister of Cambodia delivered opening remarks and Minister for Commerce of Cambodia addressed welcoming remarks. Before the opening Ceremony, Prime Minister of Cambodia met with the AESAN Economic Ministers, and the Union Minister for Investment and Foreign Economic Relations also joined that session. After the Opening Ceremony, the 54th ASEAN Economic Ministers’ Meeting and related meetings continued.

At the 36th ASEAN Free Trade Area Council Meeting, the Ministers discussed progress of the implementation of ASEAN Trade in Goods Agreement (ATIGA) and provided necessary guidance on the preparations for the ATIGA Upgrading Negotiations for further expanding regional trade cooperation. Ministers also encouraged all member states to fully issue e-Form D through the ASEAN Single Window System. During the Meeting, the Union Minister discussed matters pertaining to Myanmar’s implementation status for the commitments under ASEAN Free Trade Area, national Authorized Economic Operator (AEO) programmes and custom integration process.

In the ASEAN Investment Area Council Meeting, the Ministers discussed the implementation of ASEAN Comprehensive Investment Agreement and, welcomed the launch of the ASEAN Investment Report (AIR) (2022). Also, the Ministers noted the report of the Senior Official to the ASEAN Investment Area Council Meeting and preparations for ASEAN Investment Roadshow which will be conducted during the ASEAN Business and Investment Summit (ABIS) 2022. The Ministers also endorsed ASEAN Investment Peer Review Report 2022 at the Meeting. At the Meeting, the Union Minister underscored the preparations for investment liberalization during the Covid-19 pandemic and promotion for potential investment in the post pandemic period. In the afternoon, the Union Minister joined the ASEAN Economic Ministers and ASEAN Business Advisory Council (ABAC) Consultations.

The ASEAN Business Advisory Council briefed the Meeting on the progress of the ABAC’s 2022 activities. The Ministers provided the necessary guidance for strengthening private sector engagement in future economic cooperation.  In the evening, the Union Minister attended the 54th ASEAN Economic Ministers’ Meeting. At the meeting, the Ministers noted the progress of the Priority Economic Deliverables (PED) for Cambodia’s ASEAN Chairmanship in 2022.

They also provided the policy recommendations, and guidance on the findings of the practical study titled “Enhancing Container Circulation to Support Maritime Transportation of Selected ASEAN Member States”. Also, they announced the launch of negotiations for the ASEAN Framework Agreement on Competition. During the Meeting, the Union Minister highlighted Myanmar’s close cooperation in the implementation of the PED. The working dinner for the 54th AEM Meeting was held on 13 September 2022.

At the dinner, the Ministers exchanged views on post-pandemic recovery efforts of each member state and the implementation status of the ASEAN Comprehensive Recovery Framework. The 54th ASEAN Economic Ministers’ Meeting and related Meetings are set to continue till the 18th of September.