VCCI President Vu Tien Loc and the Secretariat of the East Asian Business Council of Vietnam attended the 51st online meeting of the East Asian Business Council (EABC) along with business leaders from 13 East Asian countries, including 10 ASEAN countries and three partner countries of China, Japan and South Korea.

In 2021, themed “An integrated and digitally connected East Asia for a sustainable and resilient future", EABC has carried out priority activities to stabilize the supply chain and facilitate cross-border business connection amid the COVID-19 outbreak; boosted post-COVID-19 pandemic economic recovery through trade promotion and digital connection for sustainable economic growth; and made RCEP an effective measure for economic recovery in the region.

At the meeting, EABC members also heard reports delivered by working groups. The RCEP Working Group made recommendations to EABC members for persuading the governments of 15 countries to ratify RCEP as soon as possible this year. EABC will issue a letter of recommendation to RCEP economic ministers of ASEAN +3 to specify this request.

The Digital Economy Working Group recommended that EABC work more closely with local trade associations (TA) and service providers in preparatory stages for border reopening; continue to promote business networking on the EABEX website (East Asia Business Exchange); and bring RCEP to the FTA portal, raise business awareness and organize more training courses.

The MSME Working Group reported that, to help MSMEs better understand RCEP and participant benefits, the group has partnered with relevant agencies to publish an e-book on RCEP. The group will continue to work closely with the RCEP Working Group to launch activities to raise awareness of RCEP among MSMEs in the region, including an RCEP e-book, online training and webinar.

EABC expects its next meeting to discuss recommendations of the regional business community before submitting them to the ASEAN+3 Leaders Meeting at the Dialogue Meeting between EABC and ASEAN+3 Leaders scheduled for November 2021 in Brunei Darussalam.