Jakarta: ASEAN Member States and the United Kingdom (UK) has met for the first AEM-UK Consultations and endorsed the Joint Ministerial Declaration on Future Economic Cooperation between ASEAN region and the UK.
The Joint Ministerial Declaration comprises eleven cooperation areas economic recovery from covid-19 pandemic; UK-ASEAN supply chains and maintaining open markets; regulatory excellence; digital innovation; financial services; sustainable growth; infrastructure; skills and education; micro, small, and medium enterprise development; women’s economic empowerment; and public-private sector partnership.
It is the first key document adopted by both sides following the elevation of UK as a Dialogue Partner in August 2021.
"The Joint Ministerial Declaration demonstrates the shared resolve of ASEAN and the UK to work together to mitigate the economic impact of COVID-19 and deliver resilient, sustainable and inclusive economic growth," Secretary-General of ASEAN Dato’ Lim Jock Hoi, said in a press release on Wednesday.
ASEAN and the UK recognised and reaffirmed their commitment to continue working together to strengthen the resilience of supply chains and maintain open markets by sharing expertise and encouraging the adoption of digital solutions to facilitate trade.
Two-way trade between ASEAN and the UK was worth £33.8 billion in 2020, representing a decrease of 16.5% since 2019, before the Covid-19 pandemic.
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