Singapore, January 10, 2023 – The city-state’s commitment to regional economic integration was reaffirmed at the 36th Meeting of the ASEAN Economic Ministers (AEM), where Singapore played a crucial role in shaping the region’s future economic landscape.
The AEM meeting, held virtually due to the ongoing COVID-19 pandemic, saw Singapore’s Minister for Trade and Industry, Lim Hng Kiang, reiterate the importance of fostering a more integrated and sustainable ASEAN economy. The Minister highlighted the need for member states to work together to address challenges such as the impact of trade tensions, technological disruptions, and climate change.
Singapore has long been a strong advocate for the ASEAN Economic Community (AEC), with the country playing a key role in shaping the region’s economic policies. The AEM meeting saw discussions on various initiatives aimed at enhancing regional connectivity, improving productivity, and fostering innovation.
Key Initiatives
- Asean Single Window (ASW): Singapore will continue to support the development of ASW, a digital platform that aims to streamline trade procedures across ASEAN member states.
- Ace AEC Blueprint: The country will work closely with other ASEAN member states to implement the Ace AEC Blueprint, which aims to enhance regional economic integration through trade facilitation and infrastructure development.
- Regional Connectivity Initiative (RCI): Singapore will continue to support RCI, a project aimed at enhancing regional connectivity through the development of green corridors, digital networks, and other infrastructure projects.
International Cooperation
Singapore’s commitment to international cooperation was also highlighted during the AEM meeting. The country has been actively engaging with other regional and global partners to address key issues such as climate change, counter-terrorism, and disarmament. Singapore will continue to play a strong role in promoting multilateralism and cooperation on these critical issues.
Conclusion
In reaffirming its commitment to regional economic integration and international cooperation, Singapore has demonstrated its continued leadership role in shaping the future of Southeast Asia and beyond. As the region faces new challenges and opportunities, Singapore’s proactive approach will be crucial in driving growth, stability, and prosperity for all member states.