Deputy Prime Minister and Foreign Minister Pham Binh Minh chairs the 25th ASEAN Coordinating Council Meeting on COVID-19 via video conference (Photo: VNA)

According to a statement released following the 25th ASEAN Coordinating Council Meeting on COVID-19 via video conference, the Ministers agreed to establish the ASEAN COVID-19 Response Fund with the objective of mobilizing financial resources to address a shortage of medical supplies, support the research and development of medicines and vaccines for COVID-19, and prepare for emergency responses in the future.

In the statement ASEAN members pledged to ensure regional supply chains and open markets and work together to mitigate the global economic recession, restore the confidence of consumers and the business community, and maintain socio-economic stability.

The statement also expressed a strong commitment to further joint actions to deal with the COVID-19 pandemic and its economic impacts, particularly on the ASEAN Community building process, through policy coordination, sharing experience and best practices, and mutual assistance between ASEAN members.