ASEAN, Russian economic ministers meet in Da Nang
The first consultation between ASEAN Economic Ministers (AEM) and Russia took place in the central city of Da Nang on August 24 as part of the 4th ASEAN Economic Council (AEC) Meeting, the 42nd ASEAN Economic Ministers’ Meeting and related meetings.
The consultation was co-chaired by Vietnamese Minister of Industry and Trade Vu Huy Hoang and Russian Minister of Economic Development Elvira Nabiullina.
The ministers welcomed the first AEM-Russia Consultation, saying that it would provide momentum for expanding the economic and trade relations between ASEAN and Russia.
They exchanged views on current trade developments and noted that two-way trade between ASEAN and Russia in 2009 went into gradual decline compared to previous year as a result of the global economic recession. However, it was still higher than the level before the crisis, they said.
The ministers put forward many ideas to boost the ASEAN-Russia economic co-operation in the hope that economic cooperation will bring a host of benefits to both sides.
They agreed that the ASEAN Senior Economic Officials’ Meeting (SEOM)- Russia Consultation will become a main mechanism that regulates economic co-operation programmes and activities between the two sides.
The ministers asked senior economic officials to study a proposal on setting up a group of experts in charge of building a comprehensive economic cooperation roadmap to be submitted to the next AEM-Russia Consultation.
The ministers decided to hold the second AEM-Russia Consultation in 2011.
On the same day, a policy dialogue on the implementation of the ASEAN roadmap for logistics services integration, the AEM-AFTA Council and AEM-AIA Council Meetings were also held.
Two new publications designed to attract more foreign investment to the region and also to support ASEAN-based enterprises were launched in Da Nang the same day.
The ASEAN Regional Guidelines on Competition Policy illustrates country experiences and international best practices, while the Handbook on Competition Policy and Law in ASEAN for Business provides current approaches and practices relating to competition policy and law in ASEAN member states. – VOVNews
Tags: AEM 2010, ASEAN Economic Ministers 2010