ASEAN Economic Ministers, EU Reaffirm Commitment On FTA

By Mohd Haikal Mohd Isa CHIANGMAI, March 4 (Bernama) -- ASEAN Economic Ministers and the European Union (EU) have reaffirmed their commitment on working towards the ASEAN-EU Free Trade Agreement (FTA). In a joint statement issued at the end of their consultations here Thursday, the parties said they would instruct their senior economic officials to intensify work and come up with appropriate recommendations to be presented at the next ASEAN Economic Ministers-EU Consultation. The ASEAN ministers held consultation with the EU Trade Commissioner Cecilia Malmstrom on the sidelines of the 22nd ASEAN Economic Ministers Retreat which ended Thursday. The meeting was chaired by Laos as the ASEAN Chairman. The statement said both parties also reaffirmed their commitment to strengthen and deepen their economic relations. It also said both parties were happy with the progress made in the implementation of the ASEAN-EU Trade and Investment Work Programme 2015-2016. Last year, ASEAN-EU two-way trade stood at €201 billion (€1=US$1.09), an 11 per cent increase year-on-year. The EU is ASEAN's second largest trading partner. -- BERNAMA