BANDAR SERI BEGAWAN (Borneo Bulletin/ANN): Brunei is now is focusing on sustainability as a core policy aspiration as the country gears up for the future.
This was announced by Brunei's Minister of Finance and Economy II Dato Seri Setia Dr Awang Mohd Amin Liew at the 56th Asean Economic Ministers’ (56th AEM) meeting and related meetings held in Vientiane, Laos recently.
He also recognised progress made in key initiatives such as the Asean Trade in Goods Agreement (ATIGA) Upgrade Negotiation, which incorporates elements of a circular economy, and the establishment of the Asean Task Force on Carbon Neutrality.
The series of meetings, chaired by Laos, included the 56th AEM – 38th Asean Free Trade Agreement (AFTA) Council meeting, 56th AEM – 27th Asean Investment Area (AIA) Council meeting, 22nd AEM-Asean Business Advisory Council (Asean-BAC) Consultation and the 56th AEM meeting.
The meeting discussed the economic integration agenda in the region despite global economic challenges.
They also highlighted the region’s resilience and discussed sustainability initiatives, including the Asean Strategy for Carbon Neutrality, the Framework for Circular Economy, and the ASEAN Blue Economy Framework.
One of the highlights from the meeting was the signing of the 5th Protocol to Amend the Asean Comprehensive Investment Agreement (ACIA), which aims to increase transparency and provide greater certainty to investors.
The region’s economy was also highlighted, including the projection growth at 4.6 per cent this year and 4.7 per cent in 2025.
During the 56th AEM-38th AFTA Council Meeting, the ministers welcomed the full implementation of the electronic Certificate of Origin (e-Form D) and noted progress in the ATIGA Upgrade Negotiations, with plans to conclude by the first quarter of 2025.
The ministers vowed that the upgraded ATIGA will be modern and responsive to regional and global developments. – Borneo Bulletin/ANN
