(VOVworld) – The ASEAN Economic Ministers (AEMs) convened consultations with ASEAN dialogue partners in Kuala Lumpur, Malaysia, on Sunday, where they agreed to reinforce economic connectivity between the two sides. At the 14^th consultation with the Chinese Ministry of Commerce, both sides hailed the finalisation of the chapter on Customs Procedures and Trade Facilitation (CPTF) in the ASEAN-China Free Trade Area Agreement (ACFTA), which will help simplify and harmonise customs procedures and clear goods faster while ensuring transparency and stability in processing customs between ASEAN and China.

Officials at the AEM-China consultation. Photo: Vietnamplus.vn

At the 12th consultation between the ASEAN Ministers and the Republic of Korea’s Ministry of Trade, Industry and Energy, the two sides welcomed the finalization and signing of the third protocol amending the ASEAN-RoK Trade in Goods Agreement (AKFTA). They applauded the agreement to improve market access for a list of sensitive commodities.

The ASEAN officials and their counterparts from the Japanese Ministry of Economy, Trade and Industry hailed the finalization of all chapters on trade in services and investment of the ASEAN-Japan Comprehensive Economic Partnership (AJCEP) Agreement. They agreed to reach a conclusion on some difficult matters in the next several months and issue a minister-level statement on the finalization of the agreement at the end of 2015.

At the 18th AEMs’ consultation with China, RoK, and Japan (AEM+3), the ministers recognized strides made in the realization of recommendations of the East Asian Vision Group II about economic pillars and coordination among the ASEAN-China, ASEAN-RoK and ASEAN-Japan centers. They were unanimous in fostering exchanges and coordination among the centres to facilitate and strengthen trade and investment connectivity between ASEAN other dialogue partners.

At the 20^th consultation between the AEMs and Australia and New Zealand, the ministers rejoiced at the smooth implementation of the agreement to set up the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), which took effect in January, 2010, and noted that the realization of the FTA has helped consolidate the close economic partnership.

At the 12^th AEM-India consultation, the ministers hailed the enforcement of the ASEAN-India Trade in Services and Investment Agreements in Brunei, Malaysia, Myanmar, Singapore, Thailand, Vietnam and India. They called for expeditious ratification of the agreements by the other ASEAN members.