If the Priority Economic Deliverables are fully implemented, they can significantly contribute to bolster ASEAN economic integration and post-pandemic recovery in the region.
Jakarta (ANTARA) - Secretary General of ASEAN Kao Kim Hourn has commended Indonesia for raising Priority Economic Deliverables (PEDs) that are forward-looking and expected to encourage a stronger regional economic cooperation.

“If the Priority Economic Deliverables are fully implemented, they can significantly contribute to bolster ASEAN economic integration and post-pandemic recovery in the region," Hourn noted at a press conference of the 29th ASEAN Economic Ministers' (AEM) Retreat in Magelang, Central Java Province, on Wednesday.

The secretary general remarked that the PEDs, agreed at the AEM Retreat, were categorized into three strategic thrusts.

The strategic thrusts encompass Recovery and Rebuilding: Rebuilding Regional Growth through Connected Markets and New Competitiveness; Digital Economy: Accelerating Inclusive Digital Economy Transformation and Participation; and Sustainability: Promoting Sustainable Economic Growth for a Resilient Future.

Furthermore, the ASEAN secretary general stated that the meeting discussed the strategic steps to develop intra-ASEAN trade and investment potentials, so the region can have a more resilient economic growth.

“ASEAN is currently pursuing (the implementation of) several key initiatives to improve its economic integration. First, enhancing the ASEAN Trade in Goods Agreement (ATIGA) to ensure it remains relevant, up to date, forward-looking, and more responsive towards regional and global developments,” he remarked.

The second initiative is developing the ASEAN Digital Economy Framework (DEFA) as a foundation for the ASEAN to become a leading digital economy player.

Furthermore, the other initiatives are implementing the ASEAN Circular Economy Framework for the ASEAN Economic Community and developing the ASEAN Carbon Neutrality Strategy to help the ASEAN member countries to realize a resilient and resource-efficient economy.

The ASEAN member countries are also pursuing to carry out the ASEAN Industrial Project-based Initiatives to build a resilient supply chain that optimizes the potentials of mineral resources and technology in the region.

In addition, the AEM Retreat discussed strategic steps to strengthen digitalization and sustainability in the region as well as ASEAN’s pillars of economic integration.

"The ministers (attending the AEM Retreat) also agreed to implement a transformative (regional development) mindset that enables us to build a strong, resilient, and inclusive future," Kao said.

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Translator: Kuntum Riswan, Uyu Liman
Editor: Azis Kurmala
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