Wednesday, August 05, 2020

Asean and Japan launch Covid recovery plan

Apr 23. 2020
Auramon Supthaweethum
Auramon Supthaweethum
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By The Nation

Asean and Japan have agreed to help each other cope with the Covid-19 crisis by focusing on alleviating its impacts, enhancing economic flexibility, focusing exports and solving problems faced by small and medium-size businesses.

Asean economic ministers and representatives from Japan made the announcement on cooperation on April 22, said the Department of Trade Negotiations’ Director-General Auramon Supthaweethum.

They aimed to keep their markets open and adjust to regional and global demands by providing exports to stabilise market conditions while not obstructing transport of core products such as food, consumer products, medicines and medical equipment.

To aid the recovery of micro, small and medium-size businesses, they will leverage digital technology advantages to boost the region’s status as a trade and investment hub.

Japan became Asean’s fourth-largest trade partner following the Asean-Japan Comprehensive Economic Partnership agreement in 2008. In 2019, trade between the two territories was worth US$214.04 billion (Bt6.92 trillion) – $107,842 billion Asean-to-Japan and $106.2 billion Japan-to-Asean.

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