ASEAN countries have expressed their confidence that the achievement of the region’s economic priorities for 2018 would translate into a more business-friendly environment for e-commerce and innovation.
Economic ministers of the 10-member grouping endorsed the priorities put forward by Singapore as chair of ASEAN this year and were confident that these priorities would further enhance the flow of goods, services and investments in the region, according to a release from Singapore’s Ministry of Trade and Industry.
ASEAN refers to the Association of Southeast Asian Nations, which groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
The ministry said the priorities seek to deepen regional connectivity to position ASEAN for increasingly seamless economic activity and growing opportunities through advancing the implementation of the ASEAN Economic Community Blueprint 2025.
In particular, they are designed to promote innovation and e-commerce, improve trade facilitation, deepen services and investment integration, cultivate a conducive regulatory environment, and progress ASEAN’s external relations, it added.
Lim Hng Kiang, Singapore’s minister for trade and industry, said that the ministers showed strong interests in developing the potential of the digital economy in ASEAN, and recognised that was the way of future and they had to better prepare for it.
The ministers were in Singapore for the 24th ASEAN Economic Ministers’ Retreat and Related Meetings on Friday.