ASEAN to discuss realization of economic community
2011-02-24 18:42:01
ASEAN Economic Ministers are expected to review and deliberate on the progress made in the implementation of measures to realize the ASEAN Economic Community (AEC) by 2015.
Malaysian International Trade and Industry Ministry said in a statement in Kuala Lumpur on Thursday that the ministers were scheduled to meet at the 17th ASEAN Economic Ministers' Retreat held on Feb. 26 to 27 in Vientiane, Laos.
Its minister, Mustapa Mohamed, would represent Malaysia at the retreat, said the ministry.
While deliberating on ways to enhance cooperation in areas such as intellectual property rights, competition policy, labor, environment and consumer protection, the ministry said the ministers would also discuss the progress in the implementation of the various free trade agreements.
Future strategic direction of ASEAN over the next few years and beyond the AEC 2015 goal would be discussed, said the ministry, stressing that ASEAN had to continuously enhance its ability to remain as a global center to attract foreign direct investments.
According to the ministry, the AEC Blueprint measures for the first phase of 2008-2009 have been mostly completed, with an average implementation rate of 83.8 percent.
The outstanding measures will be implemented under the second phase covering the period of 2010-2011. Two more phases are scheduled to be completed until the target realization date of 2015.