ASEAN’s external partners are China, Japan, the United States, Russia, United Kingdom and Hong Kong.
In a statement today, MITI said the COVID-19 pandemic had brought about unprecedented challenges, resulting in the loss of lives and livelihoods, as well as contributing to the global economic slowdown.
“All ministers reaffirmed their commitment to take collective actions to mitigate the economic impact of this pandemic.
“Ministers also restated their resolution to ensure macroeconomic and financial stability and continuous supply chain connectivity, particularly for the flow of essential goods and services within the region,” it said.
The statement was released after the 52nd ASEAN Economic Ministers’ (AEM) Meeting and related meetings were held virtually from Aug 24 – 29, 2020.
Hosted by Vietnam as the chair of ASEAN 2020, it was the first time in ASEAN’s history that the full-fledge AEM Meetings were conducted entirely virtual.
Touching on the meetings, MITI said all ASEAN member states pledged to work closely for recovery by developing regional resiliency and responses in facing the COVID-19 pandemic to ensure regional stability and continued prosperity.
Meanwhile, MITI also said Malaysia is pleased that the Regional Comprehensive Economic Partnership (RCEP) participating countries made significant progress towards finalising the RCEP Agreement for signing at the 4th RCEP Summit in November 2020, in a bid to keep markets open for trade and investment, as well as strengthening the sustainability and resiliency of regional and global supply chains.