Economic ministers from ASEAN member countries, Australia, China, India, Japan, the Republic of Korea, New Zealand, Russia and the US met virtually on 28 August for the eighth meeting (EAS EMM) as part of the 52^nd meeting of the 52^nd ASEAN Economic Ministers (AEM-52) and relevant meetings.

Economic ministers from ASEAN member countries, Australia, China, India, Japan, the Republic of Korea, New Zealand, Russia and the US meet virtually on 28 August (Photo: VNA)

The East Asia Summit Economic Ministers Meeting (EAS EMM) was chaired by Vietnamese Minister of Industry and Trade Tran Tuan Anh.

Participants applauded the growth of trade and investment flows among East Asian countries, while underlining that the COVID-19 epidemic has created many unexpected challenges to people's lives as well as socio-economic development for most economies in the world.

They urged the continued strengthening of regional economic cooperation and coordination to repel the pandemic, towards ensuring economic development in the whole region and the macro-economic stability.

Participants emphasised the importance of maintaining supply chains in the region, while affirming their determination to promote trade and investment, especially for essential goods and services such as health care, vaccines and foods.

They applauded initiatives to mitigate impacts of the COVID-19 pandemic, including the establishment of the ASEAN fund to respond to the disease and the regional reserve of medical supplies to effectively combat the pandemic.

They underlined the role of digital technologies and cross-border cooperation among EAS member countries, saying that future priorities should be given to small businesses and household economies amid the fight against COVID-19.

The ministers highly appreciated the region's support for the reform of the World Trade Organisation (WTO), and pledged to work together to reform the WTO in a transparent and comprehensive manner, and work hard for a sustainable multilateral trading system.

Source: VNA