ASEAN expands economic partnerships to navigate global dynamics
Jakarta (ANTARA) - ASEAN is strengthening economic partnerships with various countries and regions through the accelerated implementation of several trade agreements in order to maintain the region’s competitiveness amid global economic dynamics.
The commitment was affirmed in a joint communiqué adopted by the ASEAN Foreign Ministers, as quoted from the ASEAN 2026 website on Friday.
“We reaffirm ASEAN’s commitment to deepening its economic engagement with the world through strengthening existing partnerships and diversifying new ones to preserve ASEAN’s relevance in an evolving global landscape,” the communiqué read.
The ministers welcomed the signing of the Protocol to Upgrade the ASEAN-China Free Trade Area (ACFTA) 3.0 and expressed hope that its implementation would promptly deliver tangible benefits for businesses and communities across ASEAN member states.
“We also convey our goodwill regarding the positive momentum in the ASEAN-Canada Free Trade Agreement (ACAFTA) negotiations and reaffirm our collective commitment to substantially concluding the negotiations this year,” the communiqué stated.
ASEAN also underscored the importance of concluding the review of the ASEAN-India Trade in Goods Agreement (AITIGA) this year as part of efforts to strengthen trade ties with India.
In addition, ASEAN welcomed the launch of negotiations to upgrade the ASEAN-Korea Free Trade Area (AKFTA) this year. The agreement is expected to strengthen trade, supply chains, energy cooperation, the green economy, and the digital economy.
“We also welcome the launch of negotiations this year to upgrade the ASEAN-Korea Free Trade Area (AKFTA) to strengthen trade, supply chains, energy cooperation, the green economy, and the digital economy. ASEAN targets the substantial conclusion of these negotiations by the end of 2027,” the communiqué read.
On this occasion, ASEAN reaffirmed its commitment to the effective implementation of the Regional Comprehensive Economic Partnership (RCEP). ASEAN believes that a strengthened and expanded RCEP will continue to serve as the foundation of regional trade and economic integration.
The ministers also appreciated the adoption of the Joint Declaration on Economic Cooperation between ASEAN and the Gulf Cooperation Council (GCC) at the 2nd ASEAN-GCC Summit last year, and looked forward to its implementation and follow-up.
ASEAN also expressed appreciation for the ongoing efforts of ASEAN member states and parties to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
“We also commend the continued efforts of ASEAN Member States and parties to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and look forward to the formal and constructive engagement of both sides at the forthcoming second ASEAN-CPTPP trade and investment dialogue,” the communiqué read.