ASEAN announces mid-term review of Economic Community blueprint
(VOVWORLD) - The ASEAN Secretariat and the EU Delegation in ASEAN announced the Mid-term Review (MTR) of the ASEAN Economic Community (AEC) Blueprint 2025 on Wednesday.
 Illustrative photo by VNA |
According to the Review, there are three key takeaways. First, good progress was made in the AEC, but it is not enough. Second, the next phase of the ASEAN economic integration is taking place in a different context. Third, the AEC must remain open and engaged to reflect what businesses, workers and consumers experience in the region. Therefore, ASEAN needs to strengthen integration, identify implementation gaps, and evaluate progress objectively. Cooperation and partnership are a prerequisite in addressing these challenges.
Vietnam’s Deputy Minister of Industry and Trade Tran Quoc Khanh said he is pleased that ASEAN has become the world’s 5th biggest economy after nearly 3 decades of integration. But he said ASEAN needs to work harder to increase intra-bloc trade, and he hopes the report will be thoroughly analysed by ASEAN members, with a view to building work plans to complete the remaining goals set out in the AEC Blueprint 2025.