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ASEAN Economic Ministers pass Ha Noi Action Plan to facilitate ASEAN trade

17:34 | 04/06/2020

Economic ministers from ASEAN member nations convened an online meeting on June 4 to implement instructions from ASEAN leaders made at the Special ASEAN Summit on COVID-19 on April 14 and have adopted the Ha Noi Action Plan to beef up economic linkages and supply chains within the bloc amidst the complicated Covid-19 pandemic.

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Vietnamese Minister of Industry and Trade Tran Tuan Anh. (Photo: VGP)

Economic ministers from ASEAN member nations convened an online meeting on June 4 to implement instructions from ASEAN leaders made at the Special ASEAN Summit on COVID-19 on April 14.

Tran Tuan Anh, Minister of Industry and Trade of Vietnam, which holds the ASEAN Chairmanship 2020, chaired the meeting.

The plan was reached Thursday at the virtual Special ASEAN Economic Ministers' Meeting on the COVID-19 response.

The ministers approved the Hanoi Action Plan, which aims to enhance economic cooperation within the bloc and connect supply chains amid the changing circumstances in the region caused by the COVID-19 pandemic, reported the VNA.

The plan was composed on the basis of the Joint Declaration of ASEAN Economic Ministers’ Retreat which took place last March.

Accordingly, plan covers specific measures for ASEAN economic recovery such as sustaining commitments to market openness in favor of food security and sustainability of the regional supply chains; avoidance of unnecessary non-tariff measures, development of foundations for trade facilitation.

asean economic ministers pass ha noi action plan to facilitate asean trade
The meeting also draws the participation of the ASEAN Secretary-General. (Photo: VGP)

It includes concrete measures to reboot ASEAN’s economy, such as maintaining commitments to market opening to ensure food security and enhancing the capacity for recovery and sustainability in regional supply chains.

Apart from avoiding new and unnecessary non-tariff measures, the bloc will also build a platform to facilitate regional trade and promote and support supply chain connectivity.

The plan also targets to optimize digital technology and e-commerce to support enterprises especially small and medium-sized enterprises (MSMEs) to survive and thrive.

The adoption of the plan reaffirms the role of the ASEAN Economic Community in responding and adapting to complicated developments of the pandemic and Viet Nam’s position as the ASEAN Chair in 2020.

The video-meeting also aimed to realize the agreements reached by ASEAN leaders at the Special ASEAN Summit on COVID-19 response held on April 14, the VGP informed.

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