InfoQuest (April 18, 2019) -- Ms. Chutima Bunyaprapasorn, Deputy Minister of the Ministry of Commerce (MOC) who acts on behalf of the Minister of Commerce, revealed that the MOC will host the 25th AEM Retreat in Phuket Province during April 22 and 23. It is the first ministerial trade conference of ASEAN since Thailand took on ASEAN's rotating presidency in 2019. Besides the meeting for ministers of 10 ASEAN countries, a meeting with ASEAN Business Advisory Council (ASEAN-BAC) will also be held to hear the suggestions of private sector on ASEAN's works.
The meeting will follow on the progress of Thailand as ASEAN's presidency on the objectives to be reached this year together with other ASEAN members, including 13 aspects of 3 fields: (1) ASEAN's preparations for the future, such as: formulating the action plan of digital field, innovation plan, and relevant HR development guide to embrace the Fourth Industrial Revolution, and pushing for the digital transformation of small enterprises; (2) Connectivity, such as: connecting all the 10 ASEAN members to shape ASEAN Single Window electronic customs system, and boosting food tourism. (3) Sustainable development on all fronts, such as: pushing for the sustainable development and cooperative research of fishery industry, and developing bioenergy in ASEAN.
Other issues to be discussed on the meeting include: ASEAN's preparations for the Fourth Industrial Revolution, ASEAN's attitude toward new problems in FTA negotiation, such as labor, environment, digital trade, e-commerce, the active role of ASEAN in WTO reform, reviewing the works of ASEAN Economic Community (AEC)'s branches to make them capable of adapting to new economic problems and reduce repeated work, and improving the ASEAN Protocol on Enhanced Dispute Settlement Mechanism to make ASEAN's dispute settlement procedure more modern and reflect the current situations, with the objective of reaching conclusion this year and signing the Protocol.
Besides, according to the willingness of relevant state leaders, efforts will be made to push for the conclusion of RCEP negotiation this year and a consensus among ASEAN members. On April 22, ASEAN economic ministers will meet with ASEAN-BAC to discuss on issues that concern ASEAN private sector.
When the meeting concludes on April 23, 2019, it is predicted that in the afternoon ASEAN economic ministers will sign two important documents, added Ms. Chutima. These documents include: Firstly, ASEAN Trade in Services Agreement: ATISA. ATISA will enhance the efficiency of ASEAN members in formulating service rules, remove unnecessary barriers to trade in services, enhance the transparency of ASEAN members in using trade service measures, and offer more trade and investment opportunities, especially in fields where Thailand is competitive, such as health service, tourism service, hospitality, catering, and building service.
Secondly, the 4th amendment protocol of the ASEAN Comprehensive Investment Agreement: ACIA. Contents of prohibiting government in stipulating investor access conditions will be amended.
ASEASN is the largest trading partner of Thailand, with bilateral total trade volume of 113.934 billion U.S. dollars in 2018, up 13 percent than that of 2017. Last year, Thailand exported goods worth 68.437 billion U.S. dollars to ASEAN, and imported goods worth 45.497 billion U.S. dollars from ASEAN, with a trade surplus of 22.94 billion U.S. dollars. Currently, the export of Thailand to ASEAN accounts for 27 percent of Thailand's total export volume.
Source: InfoQuest, by Phana / Kasamarporn / Sasithorn, translated by Xinhua Silk Road
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