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03:51 - 02/10/2023

On May 7, 2023, the 22nd ASEAN Economic Community Council Meeting took place in Jakarta, Indonesia, under the chairmanship of the Coordinating Minister of Economic Affairs of Indonesia, Mr. Elangga Hatato and the participation of ASEAN Economic Ministers, Timor Leste (attending as an observer) and Secretary General of ASEAN. The Vietnamese delegation attending the Conference included representatives of the Ministry of Industry and Trade, the Ministry of Foreign Affairs and the Office of the Inter-sectoral Steering Committee for International Economic Integration led by Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan.


The conference reviewed the implementation of priority economic cooperation initiatives of Indonesia, the ASEAN Chairmanship in 2023, focusing on 03 main directions: (i) Recovery and Reconstruction; (ii) Digital economy; (iii) Sustainable, and welcome the completion of 16 priority economic cooperation initiatives of Cambodia, the ASEAN Chairmanship in 2022, the remaining initiatives will be completed during the next period. 

With the goal of ensuring sustainable economic development and enhancing regional competitiveness, the Ministers noted the implementation of ASEAN's sustainable roadmaps such as the ASEAN Circular Economy Framework and the ASEAN Central Strategy including carbon neutrality and the ASEAN Classification version 2 on sustainable finance.

The Ministers also discussed and noted the implementation of the work of the ASEAN Economic Community, including the implementation of the Master Plan to build the ASEAN Economic Community until 2025 with positive results such as the ASEAN economy's achievement of  an economic growth rate of 5.6% in 2022, return to pre-Covid-19 pandemic levels; research on the ASEAN Digital Economy Framework Agreement, aiming to start negotiations on this Agreement in September 2023; ASEAN digital transformation and the 4th industrial revolution.

On the basis of recognizing the progress of implementing recommendations in the Mid-Term Assessment Report of the Master Plan for Building the ASEAN Economic Community to 2025, the Ministers directed the work of building the ASEAN Vision for the period after 2025, which assigns the High-Level Task Force on ASEAN Economic Integration (HLTF-EI) and relevant agencies to strengthen coordination in building the ASEAN Vision after 2025 according to the set plan, ensuring inclusiveness and bring the most practical benefits to ASEAN countries, towards the goal of building a strong ASEAN Community.


Participating in the discussion at the Conference, Vietnam expressed support for Indonesia's priority economic cooperation initiatives in the 2023 ASEAN Chairmanship year, and affirmed that Vietnam will continue to cooperate closely with other ASEAN countries to implement the common goals of the ASEAN Economic Community, promote regional connectivity, aim for sustainable economic growth and enhance economic integration as well as regional competitiveness.

The Ministers also approved the following draft documents to submit to the ASEAN Leaders at the 42nd ASEAN Summit: (1) Report of the ASEAN Economic Community Council to the ASEAN Summit 42nd ASEAN Summit, (2) ASEAN Leaders' Statement on Developing the Regional Electric Vehicle Ecosystem, and (3) Annex to the Economic Pillar of the Roadmap to Transforming Timor Leste become a full member of ASEAN.

The conference ends on the afternoon of May 7, 2023, preparing for the 42nd ASEAN Summit and other related conferences taking place on May 10 and 11, 2023./.