FOCUS ON ASEAN ECONOMIC INTEGRATION AT ECONOMIC MINISTERS' MEETING

KUALA LUMPUR, Aug 20 (Bernama) -- The 42nd Asean Economic Ministers (AEM)
meeting in Danang, Vietnam, from August 23 to 27, 2010, will focus on Asean
economic integration and initiatives to further strengthen economic engagement
with its dialogue partners.

International Trade and Industry Minister Mustapa Mohamed will discuss and
assess the progress of Asean economic integration initiatives outlined in the
Asean Economic Community (AEC) Blueprint.

The Ministry of International Trade and Industry (MITI) said in a statement
Friday the agenda would include new initiatives within the region as well as
with Asean dialogue partners with the aim to enhance competitiveness of the
trade and investment environment in Asean against the global economic slowdown.

The ministers will also deliberate on ways to drive Asean towards the next level
of deeper economic integration beyond the AEC, it said.

One key initiative that will benefit exporters is the memorandum of
understanding (MoU) on the Self-Certification Pilot Project between Malaysia, Brunei
and Singapore that is expected to be signed.

The MoU, aimed at reducing time and cost, is to pave the way for enhanced trade
facilitation as exporters will use self-issued invoice declarations instead of
those by the issuing authority.

Part of the structured mechanisms to strengthen engagement and partnerships with
the business community in the Asean integration process will include views
exchanged between the ministers and private sector representatives from the
Asean Business Advisory Council, East Asia Business Council and US-Asean
Business Council Consultation at the public-private sector dialogue on
implementation of the Asean roadmap for logistics sector.

Economic Ministers from China, Japan, South Korea, Australia, New Zealand,
Russia, India and the EU Trade Commissioner will also have consultations with
dialogue partners where the focus will be on measures to enhance regional
economic cooperation, including capacity-building initiatives.

MITI said the ministers would also assess the progress in free trade agreements
(FTAs) and exchange views on regional and international economic developments.

The AEM will also see the first dialogue between Asean economic ministers and
the economic minister of Russia, which in recent years has become an important
trading partner to Asean.
-- BERNAMA