We recognised that the global economy is at an important crossroad with an increasing number of uncertainties and challenges. In this regard, we reiterated our strong commitment to concluding the Regional Comprehensive Economic Partnership (RCEP) negotiations within 2019 to reinvigorate international trade and to maintain ASEAN credibility and centrality. We urged the RCEP Ministers and officials to redouble their efforts to reach this target, guided by the RCEP Work Plan 2019 which was endorsed by the Ministers at the intersessional meeting in Siem Reap in March 2019. We also called for relevant ASEAN partners to prioritise the RCEP negotiations and to work with ASEAN to conclude the RCEP negotiations within this year.
We recognised that financial cooperation and integration remain important for a strong and stable ASEAN Economic Community (AEC), especially at this time of heightened global uncertainties. We welcomed the signing of the Protocol to Implement the Eighth Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services (AFAS) by ASEAN Finance Ministers on 5 April 2019, which underscores our strong commitment in advancing linkages among AMS by further opening market access in the financial services sector. We noted that negotiations for the 9 th Protocol have commenced and encouraged ASEAN Member States to make substantial commitments for its early finalisation, in line with the ASEAN Economic Community (AEC) Consolidated Strategic Action Plan (SAP) 2025. We noted the endorsement of ASEAN Capital Markets Forum’s (ACMF) initiative to create the Roadmap for ASEAN Sustainable Capital Markets by the ASEAN Finance Ministers and Central Bank Governors on 5 April 2019 in Chiang Rai, Thailand as well as ongoing work on innovative financing approaches through Inclusive Finance Facility and the ASEAN Catalytic Green Finance Facility, and connectivity through local currency settlement and cross-border retail payments. We reaffirmed our commitment to accelerate infrastructure development and financing in ASEAN through the mobilisation of private capital. We also recognised the importance of keeping abreast of technological advancements and the digital economy for the benefit of the region’s growth and development. We welcomed efforts to encourage the ASEAN banking community to gradually adopt the principles of sustainable finance into business practices. We underscored the importance of the use of local currencies to promote trade and investment in our region. We also welcomed the continued efforts in developing a regional framework to facilitate the integration of real-time retail payment system in ASEAN, including the progress on the Thailand and Singapore payment system linkage and look forward to its live-operation by the first half of 2020.
We welcomed the signing of the Protocol to Amend the ASEAN-Japan Comprehensive Economic Partnership Agreement on 2 March 2019 in Siem Reap, Cambodia, and looked forward to its early implementation. We also welcomed the entry into force of the ASEAN-Hong Kong, China Free Trade Agreement (AHKFTA), and the ASEAN-Hong Kong, China Investment Agreement (AHKIA), respectively on June 11th and June 17th . We expressed confidence that the trade and investment opportunities arising from these agreements and other ASEAN Plus One FTAs would further stimulate growth and development in the region.
We remained concerned over the unabating tide of protectionism and antiglobalisation sentiments that continue to plague the global economy and put the multilateral trading system under threat. Amidst the challenges faced by the World Trade Organization (WTO), there is a need to preserve and strengthen the dispute settlement mechanism being the WTO's unique system in settling trade disputes. We therefore reaffirmed our strong commitment to upholding an inclusive, transparent, and rules-based multilateral trading system. We also noted the work that is being undertaken to reform and modernise the World Trade Organization (WTO) and reiterated our full support to this endeavor We noted the deep concern of some ASEAN Member States on issues relating to unfair market access and treatment for palm oil. We reaffirmed our support for the concerned Member States’ efforts to address the sustainability of palm oil, including their continued engagement with relevant parties.
We welcomed the significant progress in implementing the Master Plan on ASEAN Connectivity (MPAC) 2025 towards a seamless and competitive ASEAN Community. To address the sustainable infrastructure needs of the region and unlock opportunities, we are pleased to note that the development of the Initial Rolling Priority Pipeline of Potential ASEAN Infrastructure Projects has progressed well and look forward to the launch of the ASEAN Infrastructure Projects at the sidelines of the 35th ASEAN Summit and Related Summits. Complementing the efforts to advance sustainable infrastructure, we also welcomed the commencement of work on the development of an ASEAN database on trade routes and framework for enhancing supply chain efficiency. We emphasised the importance of promoting links and interface between ASEAN and sub-regional arrangements as well as between ASEAN MPAC 2025 and the connectivity strategies of other countries and regions, using the “Connecting the Connectivities” approach, which could broaden and deepen our partnerships on connectivity. We commended the ASEAN Connectivity Coordinating Committee (ACCC), the Lead Implementing Bodies (LIBs) and relevant ASEAN Sectoral Bodies for their strong support to the implementation of MPAC 2025, and appreciated the continuous contributions of our Dialogue Partners and external parties.
We encouraged cooperation in the pursuit of ASEAN as a single tourism destination which promotes responsible, sustainable, inclusive and balanced tourism development, so as to contribute significantly to the socio-economic well-being of ASEAN people. We also supported the liberalisation of air services under the ASEAN Single Aviation Market, including through efforts to harmonise and enhance air traffic operations through the establishment of a Seamless ASEAN Sky.
We underlined the need for a more holistic approach to prepare ASEAN for the challenges brought about by the Fourth Industrial Revolution (4IR). We noted the ongoing work on the development of the ASEAN Digital Integration Framework Action Plan (DIFAP) 2015-2025, ASEAN Innovation Roadmap 2019-2025, ASEAN Declaration on Industrial Transformation to Industry 4.0, Guideline on Skilled Labour/Professional Services Development in Response to the 4IR, and initiatives related to the digitalisation of ASEAN micro enterprises. We commended the ASEAN Business Advisory Council (ASEAN BAC) for its 2019 legacy project entitled “ASEAN Human Empowerment and Development (AHEAD)”, which focuses on human capital development to embrace the 4IR. We encouraged strengthening partnerships between all relevant sectoral bodies, stakeholders, as well as the private sectors to better prepare for and fully harness the 4IR as highlighted by the ASEAN Digital Ministers’ Retreat in March 2019 in Phuket. We commended the Economic Research Institute for ASEAN and East Asia (ERIA) for publishing the “ASEAN Vision 2040: Towards a Bolder and Stronger ASEAN Community” report which provides recommendations on how to most effectively prepare ASEAN for the future, particularly the 4IR.
We welcomed the holding of the ASEAN Smart Cities Network (ASCN) Roundtable Meeting and Conference on Smart and Sustainable Cities to discuss the ASCN Terms of Reference and the ASCN Monitoring and Evaluation (M&E) Framework that would further institutionalise the ASCN on 6-7 June 2019 in Bangkok. We encouraged the ASCN pilot cities to continue to implement their city action plans.
We commended the convening of the ASEAN Meeting on Combating Illegal, Unreported and Unregulated (IUU) Fishing in partnership with the European Union (EU) on 4-5 April 2019 in Bangkok which is aimed at: (i) exchanging experiences and expertise on policies, regulations, and best practices to combat IUU fishing; (ii) strengthening cooperation on combating IUU activities among the enforcement agencies, authorities and other relevant stakeholders in ASEAN through effective implementation of existing mechanisms under ASEAN, including relevant international law and instruments; (iii) implementing sustainable fisheries management and cooperation; and (iv) exploring the possibility of establishing an ASEAN IUU Network.
We also commended the initiative of the Special ASEAN Ministerial Meeting on Illegal Wildlife Trade (SAMM-IWT) which aimed to enhance regional efforts to reduce demand for IW products, strengthen law enforcement, and encourage ASEAN Member States to monitor the online IW.
We welcomed ongoing sub-regional economic cooperation efforts which continue to serve as catalysts for economic growth and sustainable development and for reinforcing regional economic integration and connectivity, such as the Brunei Darussalam-IndonesiaMalaysia-Philippines East ASEAN Growth Area (BIMP-EAGA), Indonesia-MalaysiaThailand Growth Triangle (IMT-GT) and Ayeyawady - Chao Phraya - Mekong Economic Cooperation Strategy (ACMECS) processes, as well as new initiatives such as the Eastern Economic Corridor (EEC), all of which will help complement ASEAN Community-building.
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