U Thaung Tun, Union Minister for Investment and Foreign Economic Relations attended the 25th ASEAN Economic Ministers Retreat (25th AEM Retreat) held in Phuket, Thailand on 22-23 April 2019.
The meeting was attended by the ministers and representatives from ASEAN Member States (AMS) and the Secretary-General of ASEAN and chaired by Ms. Chutima Bunyapraphasara, Acting Minister and Deputy Minister of Commerce of Thailand.
At the meeting, Ministers discussed the implementation of ASEAN Economic Community (AEC), including ASEAN digital transformation, monitoring and evaluation of AEC, conclusion of the Regional Comprehensive Economic Partnership (RCEP) in 2019 and WTO Reforms.
The Union Minister highlighted the current status of AEC implementation in Myanmar, readiness of ASEAN Member States in regards to the 4th Industrial Revolution and the importance of a rules - based multilateral trading system and revitalization of the WTO. The Minister also confirmed Myanmar’s readiness to receive the AEC monitoring and evaluation country visit in 2019.
The ASEAN Economic Ministers also held consultations with the ASEAN Business Advisory Council (ASEAN-BAC) on 22 April 2019. The Ministers were briefed by the ASEAN-BAC on councils priorities in 2019.
The ASEAN Member Countries which had completed their domestic procedures signed the ASEAN Trade in Services Agreement (ATISA) and the Fourth Protocol to amend the ASEAN Comprehensive Investment Agreement (ACIA).
