Siem Reap, 15 September 2022 (TDI): The 54th ASEAN Economic Ministers’ meeting (54th AEM) is being hosted by Cambodia in Siem Reap. The 54th AEM and related meetings kicked off on Wednesday. It will continue till the 18th of September.
During the meeting, participants will discuss the progress of economic community integration in the post-COVID-19 era. They will also highlight policies of cooperation amid the rising global inflation.
It will also see debate on ASEAN External Economic Relations and Timor-Leste’s application for ASEAN membership.
Also Read: Malaysia at 54th ASEAN Economic Ministers Meeting
Representatives from ASEAN member states and dialogue partners are attending the meeting. This includes Ministers from China, Russia, India, South Korea, Japan, Vietnam, and many others.
Remarks by Cambodia’s Prime Minister
Prime Minister of Cambodia, Hun Sen presided over the opening ceremony on Wednesday.
Opening remarks by PM at the 40th ASEAN Ministers on Energy Meeting, Associated Meeting and ASEAN Energy Business Forum 2022, via video recording pic.twitter.com/N2PqDVCUww
— Office of Cambodian PM 🇰🇭 (@PeacePalaceKH) September 15, 2022
During his address, he highlighted that the world is facing many developmental problems.
Therefore, he said that ASEAN countries should strengthen their trading system based on rule of law, globalization principle, multilateralism mechanism, and liberalization of trade and investment.
The Prime Minister emphasized that ASEAN should devote more attention to timely respond to new issues and trends in global trade architecture. This includes rising oil prices, high inflation, the environment, climate change, and the pandemic.
The Cambodian leader also highlighted ASEAN green agreement implementation. He asserted that the deal will lead to a sustainable future, efficient energy use, strong adaptation, and higher economic competitiveness.
Additionally, Prime Minister Hun Sen said that for 30 years, ASEAN has been working in unity to establish the ASEAN region as a single market.
He said it is trying to increase its production base by deepening trade and investment liberalization in compliance with international law and the multilateral trading system.
Correspondingly he said that ASEAN should continue to work in unity to coordinate and intensify the establishment of a global framework for international trade.
Remarks by Cambodian Minister of Commerce
The Minister of Commerce of Cambodia, Pan Sorasak also addressed the meeting on its first day. The Minister emphasized that as the chair of ASEAN for the year 2022, Cambodia is trying its best to promote sustainable, inclusive, and resilient economic growth.
Cambodia’s Minister of Commerce H.E. Pan Sorasak chaired the Consultation between the ASEAN Economic Ministers and the ASEAN Business Advisory Council at Sokha Siem Reap Hotel in Siem Reap provincial city pic.twitter.com/zHtKDLWH9y
— Office of Cambodian PM 🇰🇭 (@PeacePalaceKH) September 15, 2022
He said that in the post-pandemic era, countries must focus on collaborating for the sake of economic recovery.
Consequently, he affirmed that Cambodia commits to working closely with ASEAN and its development partners. This is so to sustain ASEAN as a region of critical importance for global trade, investment, and supply chains.
The Minister also highlighted that ASEAN should work to generate maximum benefits collectively. He said it will help in gaining more benefits from the existing free trade agreements, especially from the Regional Comprehensive Economic Partnership (RCEP).
ASEAN
The Association of Southeast Asian Nations (ASEAN) is an international organization established by the governments of Indonesia, Malaysia, the Philippines, Singapore, and Thailand in 1967.
It was established to accelerate economic growth, social progress, and cultural development. Additionally, it also aims to promote peace and security in Southeast Asia.
Right now, the group consists of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
The organization also includes many observer status members and enjoys partnerships with many international organizations and countries.
Cambodia is chairing ASEAN for the year 2022 which will be transferred to Indonesia next year.
