ASEAN Economic Ministers Meet to Discuss Free Trade Areas
By Sou Sophornnara
Cambodia News
Siem Reap: Cambodian Prime Minister Hun Sen said the Association of Southeast Asian Nations (ASEAN) still continues to face challenges of both regionally and globally due to posing a great threat to the sustainability of socio-economic development of ASEAN achieved over the last four decades.
In his opening remarks at the 44th ASEAN Economic Minister (AEM) Meeting held in Siem Reap provincial municipality, northeast of Phnom Penh capital, on 27th August 2012, the premier said the challenges included fragility of the economy recovery of developed countries, coupled with prolonged severe debt crises in Europe, the on- going social and political turmoil in the Middle East and North Africa, high oil prices, food and energy security, climate change, natural disaster, terrorism and transnational crime.
The AEM meeting which takes place from 25th August to 1st September in the land of famous Angkor temples discusses numbers of trade and economic that involves ASEAN economic ministers meeting, several other related meetings and sideline meeting of private sectors with the government of ASEAN countries.
He said that realizing the ASEAN economic community by 2015 is the top priority in order to transform ASEAN to be a single market and production base, with free flow of goods, services, investment, skilled labor, and free flow of capital.
“There is a need to prioritize actions and key concrete measures to address challenge and bridge the development gap which hinder the realization of ASEAN economic community as planned,” he said
The meeting also brings economic ministers and leaders from other involved countries including China, Japan, Korea, Canada and the United States of America to discuss the future expansion of economic cooperation and integration between ASEAN and dialogue partners such as EU, US, Russia, China and Canada on trade and investment in the region.