Kuala Lumpur (VNA) – ASEAN foreign and economic ministers are expected to convene a joint meeting ahead of the 47th ASEAN Summit in October, as part of efforts to develop a more coordinated regional response to mounting global economic headwinds.
ASEAN Secretary General Kao Kim Hourn told the press on the sidelines of the 58th ASEAN Foreign Ministers’ Meeting (AMM) and related meetings on July 11 that the meeting will be held before the summit, scheduled for October 26-28 in Kuala Lumpur.
The decision comes amidst growing uncertainties in global trade such as the US’s tariff policies under the Trump administration, he said.
Kao elaborated that ASEAN member states have already held six rounds of discussions focusing on the impact of evolving US trade policies and broader shifts in the global economic landscape.
ASEAN’s stance is to continue pursuing constructive engagement and negotiation with the US, he said, adding member states could hold bilateral negotiations at the same time.
While the US remains an important partner, ASEAN’s trade diversification strategy remains strong, he said, highlighting the bloc’s FTAs with China, Japan, the Republic of Korea, India, Australia, and New Zealand, as well as the growing intra-ASEAN trade and investment.
The bloc has not deviated from its long-standing commitment to a free, open, and rules-based multilateral trading system, anchored with the World Trade Organisation (WTO).
ASEAN has concluded the upgrade of the ASEAN Trade in Goods Agreement (ATIGA) to be signed during the upcoming summit. Beyond tariff reductions, ASEAN is now working to eliminate non-tariff barriers to realise the vision of a single market./.
VNA
