Economic ministers of 18 countries join forces to revitalize the East Asian economy


September 17, 2021 – 16:26

Economic ministers of 18 countries join forces to revitalize East Asian economies Coping with the Covid-19 Crisis

Mr. Sunart Nithiuthai, Deputy Director-General, Department of International Trade Negotiations Ministry of Commerce revealed that the Deputy Prime Minister and Minister of Commerce Has assigned the Department of International Trade Negotiations to attend the 9th East Asia Summit (EAS-EMM) Economic Ministers’ Meeting via teleconferencing on September 15 last year. by this meeting Economic ministers of 18 countries including ASEAN and eight dialogue partners including China, Japan, South Korea, India, Australia, New Zealand, the United States and Russia have discussed ways to deal with the COVID-19 pandemic. and guidelines for cooperation to revitalize regional economies

The meeting emphasized key goals to strengthen the economy, such as facilitating trade and investment. Avoid the use of strict non-tax measures. especially the group of essential goods and services to reduce trade barriers and not discriminate and maintain competitiveness to attract investment from around the world. Enhancing the economic and investment environment to increase business confidence in the region as well as connecting private sector networks between countries

In addition, the meeting also saw the importance of cooperation in public health. and ensuring universal and equal access to safe and effective vaccines. Emphasize the importance of all sectors to health, food and energy security and support the implementation of the ASEAN Comprehensive Restoration Framework. to determine the direction and strategy of social and economic revitalization as well as the ASEAN Fund for Combating COVID-19 to help alleviate the urgent needs of members Such cooperation will be an important factor in helping to restore the economy of EAS member countries after the Covid-19 crisis.

In 2020, trade between Thailand and ASEAN+8 countries amounted to more than US$313.18 billion. Thailand exported more than 164,015 million US dollars, and in the first 7 months of 2021, trade between Thailand and ASEAN+8 countries is worth over 219,922 million US dollars. grew by 22.6 percent, with Thai exports worth more than 112,642 million US dollars.

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