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Press Information The 22nd ASEAN Economic Community Council Meeting

08:01 - 08/05/2023

       On May 7, 2023, the 22nd ASEAN Economic Community Council Meeting took place in Jakarta, Indonesia, under the chairmanship of the Coordinating Minister for Economic Affairs. Indonesia, His Excellency Elangga Hatato and the attendance of ASEAN Economic Ministers, Timo Letste (attending as an observer) and the 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 Meeting reviewed the implementation of priority economic cooperation initiatives of Indonesia, the ASEAN Chair in 2023, focusing on three main orientations: (i) Recovery and Reconstruction; (ii) Digital economy; (iii) Sustainability, and welcomes the completion of 16 priority economic cooperation initiatives of Cambodia, the ASEAN Chair in 2022, the remaining initiatives will continue to be completed in the future. 

          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, the ASEAN Strategy on Central carbon neutrality and the ASEAN Taxonomy 2nd edition 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 to 2025 with positive results such as the ASEAN's economy will reach an economic growth rate of 5.6% in 2022, returning to pre-Covid-19 levels; study on the ASEAN Framework Agreement on the Digital Economy, aiming to launch negotiations for this Agreement in September 2023; ASEAN digital transformation and the 4th industrial revolution.

         On the basis of acknowledging the progress of implementing the recommendations in the Mid-Term Review Report of the Master Plan for the Building of the ASEAN Economic Community to 2025, the Ministers directed the work of developing the ASEAN Vision for the next 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 in accordance with the set plan, ensuring that 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 its support for Indonesia's priority economic cooperation initiatives in the ASEAN Chairmanship year 2023, and affirmed that Vietnam will continue to work closely with other ASEAN countries to realize the common goals of the ASEAN Economic Community, promote regional connectivity, move towards sustainable economic growth, and enhance economic integration and capacity of regional competitiveness.

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

       The Meeting ended on the afternoon of May 7, 2023, preparing for the 42nd ASEAN Summit and other related meetings to take place on May 10 and 11, 2023.