PETALING JAYA: Asean is ready to engage in a frank and constructive dialogue with the United States to address trade-related concerns following the introduction of unilateral tariffs.
In a joint statement of the Asean Economic Ministers on Thursday (April 10), in light of new developments, open communication and collaboration will be crucial to ensuring a balanced and sustainable relationship.
“As such, we remain committed to safeguarding Asean’s economic interests as well as maintaining strong and mutually beneficial trade relations with the US,” it said.
Asean also reaffirmed its readiness to work together with the US under the Asean-US Trade and Investment Framework Agreement (Tifa) and Expanded Economic Engagement (E3) Workplan, to explore mutually acceptable solutions on issues of common interest.
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These include facilitating two-way trade and investment, deepening strategic trade partnerships, and enhancing supply chain connectivity and resilience through digital technology and innovation that can promote stronger regional cooperation, it said.
It added that such a framework would strengthen constructive engagement, foster regional supply chains and drive innovative initiatives to ensure a resilient, secure, stable, and mutually beneficial economic relationship with a particular focus on high-value sectors.
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“We reaffirm our support for a predictable, transparent, free, fair, inclusive, sustainable, and rules-based multilateral trading system with the World Trade Organization (WTO) at its core, and we acknowledge the critical role that the WTO has played in fostering global economic growth.
“In this context, as a group, we will continue to discuss ways on how to further strengthen and boost intra-Asean trade and investment within the region.
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"This will send a strong signal of our commitment and resolve to advancing regional economic integration. In response to the economic repercussions that may arise, we will continue to work together more closely,” it said.
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This collective effort will enable Asean to cope with and overcome the global trade crisis, minimise the impact on our people, and continue to grow sustainably, the statement added.
