ASEAN pledges favorable conditions for trade activities

(VOVworld) – ASEAN economic ministers agreed to create favorable conditions for trade activities by using self-certification, the ASEAN Trade Repository, the ASEAN Solution for Investment, Services and Trade, and the ASEAN Single Window (ASW). The agreement was made at the 30th meeting of the ASEAN Free Trade Area (AFTA) Council, held in Vientiane, Laos, on Wednesday, on the sidelines of the 48th ASEAN Economic Ministers’ Meeting.
ASEAN pledges favorable conditions for trade activities - ảnh 1
Overview of the 30th meeting of the ASEAN Free Trade Area (AFTA) Council (Photo: VNA)

The Ministers were unanimous that the ASEAN-wide self-certification initiative, once approved, will help businesses in the region reduce costs yet improve performance. They urged member countries to double their efforts to speed up the adoption of a Protocol on the Law Framework to implement the ASEAN Single Window, which is expected to be applied this year. They also called for the early approval of the ASEAN Mutual Recognition Arrangements on automated machinery, processed food, and construction materials.

The same day, the ASEAN Investment Area Council convened its 19th meeting, attended by economic officials of 10 ASEAN members and the ASEAN Secretariat. Participants reviewed implementation of the ASEAN Comprehensive Investment Agreement (ACIA) and discussed how to implement it more effectively in the future.

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