Southeast Asian countries to promote economic cooperation

The set of plans focuses on recovery and connectivity between the region's economies, building an inclusive and sustainable future and promoting digital transformation.

The plan was adopted on March 8 and 9 in Luang Prabang, Laos in the context of the 30th Restricted Meeting of ASEAN Economic Ministers.

During this meeting, the priorities for the year 2024 were also agreed upon. Trade in goods and services, movement of people, investment, finance, intellectual property and electronic commerce get priority; The implementation framework was approved by the participants.

As part of the meeting's agenda, the ministers also discussed how to improve existing agreements on ASEAN Trade in Goods (ATIGA), Digital Economy (DEFA) and Competition.

Data from the Assembly's secretariat released during the meeting showed the union's gross domestic product (GDP) to grow by 4.7 percent in 2023, higher than the global average of 3.1 percent.

Earlier this month, Luang Prabang also hosted the ASEAN Defense Ministers' Retreat (ADMM-Retreat), which adopted a Joint Statement on Policy and Achievements in Implementation of the Defense Community 2025 Common Plan.

The forum allowed for an exchange of views on the international and regional security environment. Participants reaffirmed the need to consolidate and maintain a central and leadership role in cooperation mechanisms in the region in order to respond in a timely manner to emerging conventional and non-conventional security challenges.


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