Hanoi Action Plan boosts ASEAN economic recovery amid COVID-19

VOV.VN - ASEAN Economic Ministers adopted the Hanoi Plan of Action during a special meeting on June 4 in an effort to boost the bloc’s economic co-operation and connect its supply chains amid the complex nature of the novel coronavirus (COVID-19) pandemic both regionally and globally.

hanoi action plan boosts asean economic recovery amid covid-19 hinh 0
Industry and Trade Minister Tran Tuan Anh chairs the teleconference (Photo: Huy Vu)
In line with the plan, ASEAN Economic Ministers agreed to maintain market opening commitments in a bid to ensure food security and enhance resilience as well as sustainability in terms of the regional supply chain.

They consented to avoid implementing any new and unnecessary non-tariff measures, striving to build platforms aimed at facilitating existing trade throughout ASEAN, while promoting and supporting supply chain connectivity.

The ministers also stressed the necessity of making full use of technology and digital commerce as a means of supporting and allowing businesses, especially micro, small and medium sized enterprises, to maintain operations. 

According to the ASEAN Economic Ministers, the adoption of the Hanoi Plan of Action affirms the proactive role that the ASEAN Economic Community plays in  responding and adapting to the complicated development of the COVID-19 pandemic. Moreover, it also demonstrates Vietnam’s role as ASEAN Chair in 2020, in working out specific measures that are suitable for ASEAN members to implement in order to weather the storm as a collective.

The Plan of Action is based on the Joint Statement of ASEAN Economic Ministers which was proposed and promoted by Vietnam and adopted during the ASEAN Economic Ministers Retreat Meeting in March.

The ministers also discussed the Joint Statement of the ASEAN Business Advisory Council that makes up the private economic sector’s response to the COVID-19 pandemic.

The teleconference was attended by economic ministers of the 10 ASEAN member states and the ASEAN General Secretary. As part of the country’s responsibility in its role as ASEAN Chair in 2020, Vietnamese Minister of Trade and Industry Tran Tuan Anh hosted the event.