ASEAN member states are strengthening
cross-border cooperation and enhancing trade facilitation initiatives, said
Senior Minister of State for Trade and Industry Lee Yi Shyan in Parliament.
SINGAPORE:
ASEAN member states have made steady progress in building the ASEAN Economic
Community (AEC) by 2015, said Senior Minister of State for Trade and Industry
Lee Yi Shyan.
Mr Lee
said in Parliament on Wednesday (July 9) they are strengthening customs and
cross-border cooperation, enhancing trade facilitation initiatives, as well as
eliminating tariff and addressing some non-tariff measures to facilitate and
increase trade in goods.
"We
are also working hard to complete the 9th package of commitments under the
ASEAN Framework Agreement on Services, which will reduce services barriers
including the lowering of foreign equity limits,” said Mr Lee.
“On
investment, there are ongoing activities aimed at improving ASEAN's investment
regimes and promoting ASEAN as a single investment destination."
Mr Lee
added that ASEAN member states are also working to develop the ASEAN Economic
Community's post-2015 agenda. He said they recognise that integration is the
only way forward if ASEAN wants to compete successfully in an increasingly
globalised world.
- CNA/ec
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