AEM-USTR Backs USABC-ASEAN Efforts To Advance Digital Economic Integration
By Kisho Kumari Sucedaram
KUALA LUMPUR, Sept 25 (Bernama) -- The ASEAN Economic Ministers – United States Trade Representative (AEM-USTR) Consultation meeting expressed support for continued collaboration between the US-ASEAN Business Council (USABC) and ASEAN, particularly in strengthening digital economic engagement.
This includes capacity building initiatives to support the development of the ASEAN Digital Economy Framework Agreement (DEFA) and activities aimed at enhancing the competitiveness of micro, small and medium enterprises (MSMEs) in the digital economy.
In a joint statement today, the meeting also reiterated its interest in constructive engagement to strengthen resilient regional supply chains and drive innovative initiatives for a mutually beneficial economic relationship.
It further recognised the importance of the World Trade Organisation (WTO) as a forum to advance trade issues, noting that its established rules are key to facilitating global trade.
“The meeting further recognised that the WTO faces challenges and requires meaningful, necessary, and comprehensive reform to improve all its functions, through innovative approaches, making it more relevant and responsive to today’s realities,” the joint statement said.
The meeting also noted Timor-Leste's continued commitment to the roadmap for its full ASEAN membership and looked forward to the complete and effective fulfilment of all the criteria outlined in the roadmap.
“The meeting reaffirmed its support for Timor-Leste’s integration efforts into ASEAN and expressed readiness to provide continued capacity building and technical assistance to facilitate its effective inclusion into the regional economy,” it added.
The consultation meeting was co-chaired by Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz and US Trade Representative Jamieson Greer yesterday.
-- BERNAMA
