The ASEAN Business Advisory Council (ABAC) proposed initiatives to promote ASEAN investment through trade facilitation at the ASEAN Economic Ministers (AEM) and ABAC Consultation in Vietnam’s central city of Da Nang on March 10.

Participants at the event (Source: baodautu.vn) 

The ABAC suggested developing micro, small and medium enterprises (MSMEs) focusing on key categories such as e-commerce, tourism, transportation and logistics, as well as having consistent reform policies.

The council has demonstrated its role of promoting the global economy and contributed to building the ASEAN Economic Community (AEC) into a dynamic environment with numerous opportunities via major projects such as human resources development, digital trade connection, and upgrading consulting network for ASEAN businesses.

Earlier on March 8, the Ministry of Industry and Trade chaired a preparatory meeting of ASEAN senior economic officials. Participants discussed 13 priorities proposed by Vietnam based on three main orientations: promoting intra-bloc economic connectivity, intensifying partnerships for peace and sustainable development, and enhancing ASEAN adaptive capacity and operational efficiency.

Founded in 1967, the Association of Southeast Asian Nations (ASEAN) groups 10 member countries, namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.