Asean eyes post-pandemic recovery

ECONOMIC Ministers from the 10 Asean member-states (AMS) recently met to discuss implementation of initiatives that will further the region’s post-pandemic economic recovery efforts.

Asean is the Association of Southeast Asian Nations (Asean). In a statement over the weekend, Trade and Industry Secretary Ramon Lopez said Brunei Darussalam, this year’s Asean chair, led the setting of the priority economic deliverables (PEDs).

These focuses on recovery, digitalization and sustainability.

“We see the value of the identified PEDs especially in enhancing and complementing existing Asean initiatives, especially towards economic recovery efforts,” said Lopez.

“The plan is to have these initiatives realized within the year, as they will significantly contribute to Asean’s regional integration,” he added.

The Asean Comprehensive Recovery Framework (ACRF) aims to deepen further regional economic integration under the framework of the Asean Economic Community Blueprint 2025.

In line with the implementation of the memorandum of understanding (MOU) on the Implementation of the Non-Tariff Measures (NTMs) signed last year, ministers also tasked senior economic officials to work on the expansion of the Asean List of Essential Goods with the view to include food and agricultural products to the current list of medicines and medical supplies and equipment — as necessary goods in combating the pandemic, on which the NTMs must be minimized.

The MOU urges ASM to refrain from implementing unnecessary trade measures that may affect the movement of these goods.

The MOU also calls for the facilitation of timely information sharing among member-states on any trade-related measure applied to the aforementioned essential goods and supplies.

Lopez cited the need to expand the List of Essential Goods especially the inclusion of staple food such as rice.

“It is imperative for Asean to show to our stakeholders that member-states are determined to ensure the smooth flow of these essential goods in these challenging times. In fact, even in normal circumstances, it is incumbent upon member-states to refrain from implementing unnecessary non-tariff trade measures,” he said.

During the meeting, ministers also engaged with the Asean Business Advisory Council to discuss pandemic initiatives of the private sector and their proposed areas for cooperation in 2021, such as in healthcare, trade facilitation, and micro, small and medium enterprises (MSMEs).

Lopez said ministers also endorsed the List of 2021 AEC Annual Priorities that will further guide the work of Asean sectoral bodies in key areas — such as trade facilitation, e-commerce, and MSMEs — in ushering the region’s immediate recovery efforts from the pandemic.

He said ministers also expressed commitment towards the entry into force of Regional Comprehensive Economic Partnership as a means to encourage more investment in the region and a vital tool to integrate MSMEs into the global value chain.

According to Lopez, Asean remains an important trading partner of the Philippines.

He said total trade with Asean in 2019 amounted to $40.02 billion.