Asean strengthens economic partnership with Australia, New Zealand, India

Asean strengthens economic partnership with Australia, New Zealand, India

Illustration - ASEAN (Antara)

Jakarta, (ANTARA News) - Indonesian Trade Minister Enggartiasto Lukita and economic ministers from Southeast Asian countries held a consultation meeting with trade partners from Australia, New Zealand, and India on final day of the 50th ASEAN Economic Ministers` Meeting.

The meeting, held in Singapore on Sept 1, aimed at strengthening cooperation between ASEAN and the three trade partner countries.

"We laud the governments of Australia and New Zealand for the implementation of the ASEAN-Australia-New Zealand FTA (AANZFTA) Economic Cooperation Support Program to help realize regional economic integration," Lukita noted in a statement received by Antara on Tuesday.

In addition, Indonesia welcomed the AANZFTA Business Engagement Strategy for the 2018-2023 period aimed at increasing collaboration between businesspersons in the region.

At the 23rd AEM-CER Consultation Meeting, ASEAN Economic Ministers along with Australia and New Zealand discussed the development of the implementation of the 2018 AANZFTA Agreement.

The study of the AANZFTA Agreement produced several recommendations in enhancing cooperation in the region, including efforts to involve the role of ASEAN, Australia, and New Zealand business actors.

The ASEAN economic ministers also praised the economic ministers of Australia and New Zealand for their commitment to support capacity development in various sectors.

Such development is conducted through the AESCP financing scheme to further facilitate the implementation of AANZFTA.

On the same day, the ASEAN economic ministers also held the 15th ASEAN-India Consultation Meeting.

At this meeting, the ministers discussed the details of the development of the implementation of the ASEAN-India Free Trade Agreement (AIFTA) in the fields of goods, services, investment, and capacity building.

Responding to India`s request to increase commitment of the AIFTA Agreement, the ASEAN economic ministers reiterated their keenness that this could be done once the Regional Comprehensive Economic Partnership negotiations are completed thoroughly.

"This is done for enhancing the commitment of the AIFTA agreement for elements that are of interest to India alone," Lukita added.


Reporting by Sella Panduarsa Gareta
Editing by Yashinta Difa Pramudyani, Andi Abdussalam.
 

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