Asean kicks off talks to upgrade goods trade agreement
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Asean states yesterday launched negotiations to upgrade their goods trade agreement to deepen economic integration and maximise trade within the bloc.
The negotiations were launched at a retreat attended by the bloc's economic ministers and hosted by current chairman Cambodia.
Singapore's Minister for Trade and Industry Gan Kim Yong was at the retreat, which is in its 28th edition.
In a statement yesterday, the Ministry of Trade and Industry said the negotiations to upgrade the Asean Trade in Goods Agreement (Atiga) aimed to promote transparency, facilitate trade between member states by addressing non-tariff barriers, and discuss other issues including digitalisation and the green economy.
Mr Gan said: "Singapore supports Cambodia's Asean chairmanship economic priorities. These will collectively strengthen regional supply chains to bolster recovery and ensure that our network of free trade agreements remains relevant, progressive, and business-friendly against the backdrop of global uncertainties.
"The launch of negotiations to upgrade Atiga, progress in the Asean-Australia-New Zealand free trade agreement upgrade negotiations, as well as initiatives in new and emerging areas such as digitalisation and sustainability will benefit our people and businesses, unlock the region's economic potential and position us for the future."
At the retreat, Mr Gan proposed three key areas where Asean could work together to drive economic recovery amid the pandemic. First, he raised the importance of continued unity and regional economic integration among member states to navigate economic uncertainties such as inflationary pressures and economic disruptions.
Second, he noted the need for Asean to band together and act swiftly to respond to current challenges, including by strengthening regional supply chains and upgrading free trade agreements.
Lastly, Mr Gan highlighted how the association could position itself as a progressive and dynamic regional bloc through cooperation in emerging areas such as digital and green economies.
