ASEAN Economic Ministers' Retreat To Focus On Final Stage Of AEC Realisation

From Noor Soraya Mohd Jamal KOTA BAHARU (Kelantan, Malaysia), Feb 27 (Bernama) – The two-day 21st ASEAN Economic Ministers’ Retreat will start Saturday with the focus on, among others, the current implementation of the ASEAN Economic Community (AEC), as well as the pursuit of expanding and deepening market integration in ASEAN beyond 2015. The retreat is being held at a very crucial and important time as the 10-member regional grouping is working tirelessly towards the realisation of the all-important AEC -– a vital pillar towards the creation of the ASEAN Community. The ministers are also expected to consider and provide guidance on the work to draft the Post-2015 Economic Vision and Plan for ASEAN. International Trade and Industry Minister Mustapa Mohamed is leading the Malaysian delegation at the retreat, held at the Renaissance Hotel here. The AEC is set to come into effect by Dec 31, 2015 with the aim of creating a single market and production base in the region to further bolster ASEAN's progress and prosperity. The annual retreat is normally convened with the objective to enable ASEAN Economic Ministers to assess and take stock of the overall achievements in regional integration and to consider and discuss possible new initiatives. However, the retreat this year is critical in that the economic ministers will focus on ensuring that all core economic integration measures as stipulated in the AEC Blueprint are substantially realised. This is another important deliverable for the ministers as the expectation from the stakeholders is that ASEAN will be issuing a new and bold plan at the end of the year to set the direction for deeper regional integration for the next decade. Recommendations from the private sector and concerns over a perceived increase in non-tariff barriers to trade in the region would also be one of the main agenda items to be discussed by the ministers. Minister in the Prime Minister’s Department Idris Jala is scheduled to give a presentation on encouraging cross-border investment in ASEAN Saturday while the ASEAN Business Advisory Council will brief ASEAN economic ministers the feedback from the private sector on the AEC. The AEM Retreat will be preceded by the 8th Meeting of the High-Level Task Force on ASEAN Economic Integration Working Group on Post-2015 Economic Vision and the Preparatory Senior Economic Officials Meeting. As the Chair and host, Mustapa would also be taking the opportunity to garner support from the other ASEAN member states for a number of side events being organised in Malaysia, including the Southeast Asia Regulatory Reform Conference (March 9-12, 2015); ASEAN SME Showcase and Conference 2015 (May 26-28, 2015); ASEAN Business and Investment Summit (November 2015); and ASEAN Youth and Young Entrepreneurs related summits. All ASEAN economic ministers are attending the retreat, namely Pehin Dato Lim Jock Seng (Second Minister of Foreign Affairs and Trade, Brunei Darussalam); Sun Chantol (Senior Minister and Minister of Commerce, Cambodia); Rachmat Gobel (Minister of Trade, Indonesia); Khemmani Pholsena (Minister of Industry and Commerce, Laos); Dr. Kan Zaw (Minister for National Planning and Economic Development, Myanmar); Gregory L. Domingo (Secretary of Trade and Industry, the Philippines); Lim Hng Kiang (Minister for Trade and Industry, Singapore); General Chatchai Sarikalya (Minister of Commerce, Thailand); and Dr. Vu Huy Hoang (Minister of Industry and Trade, Vietnam). Also attending the retreat is ASEAN Secretary-General Le Luong Minh. The ministers are also scheduled to visit the Customs, Immigration, Quarantine and Security Complex and Duty Free Zone at Rantau Panjang for a first-hand view on the procedures in place at the border in terms of cross-border movement of goods, vehicles and people and issues faced on the ground. In all, about 200 delegates from 10 Southeast Asian nations, with a combined population of more than 600 million people, are expected to attend the ASEAN Economic Ministers’ Retreat and other preparatory meetings from Feb 28 to March 1. Malaysia’s vision throughout the chairmanship, themed “Our People, Our Community, Our Vision’, is the creation of a people-centred ASEAN involving all sectors of society in the grouping’s activities. The country assumed the ASEAN chairmanship on Jan 1, taking over from Myanmar. ASEAN (the Association of South East Asian Nations) groups Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. -- BERNAMA