Economic Cooperations: Economic Relation

In view of the COVID-19 pandemic, the 23^rd AEM Plus Three Consultations, held on 28 August 2020, endorsed the APT Plan of Action (APT POA) on Mitigating the Economic Impact of the COVID-19 Pandemic. Following on, the 23^rd APT Summit held on 14 November 2020 adopted the APT Leaders’ Statement on Strengthening APT Cooperation for Economic and Financial Resilience in the face of Emerging Challenges to realise the commitment of the APT countries to cooperate and collaborate on overcoming the challenges brought about by COVID-19.

At the 26^th AEM+3 Consultations held in Semarang, Indonesia on 22 August 2023, the APT noted the progress in the implementation of the APT Economic Cooperation Work Programme 2023-2024 and the positive outcomes of economic cooperation under twelve areas, among others, MSME development, private sector engagement and stakeholders’ dialogue, trade facilitation, digital economy, and green economy.

In order to strengthen economic cooperation among the APT countries, the East Asia Business Council (EABC) which was established in April 2004 in Kuala Lumpur continues to strengthen cooperation among the private sector and entrepreneurs of the East Asia countries. The 26^th AEM+3 Consultation appreciated the initiative of the EABC in promoting the utilisation of Regional Comprehensive Economic Partnership (RCEP) Agreement, supporting ASEAN’s decarbonisation agenda and promoting digital initiatives in the region, particulary on e-payments. The Meeting also welcomed the outcome of the 2023 EABC – JETRO Business Outlook Survey and noted that the market remains confident with ASEAN’s potential with 60% of companies keen to expand their businesses in the region, in the near term.

Mechanisms

Other Places

• Cooperation levels:
  • Working/Expert Group
  • Director General level
  • Other Tracks
  • Summit Level Statements
  • Ministerial-level Statements
  • SOM Level
  • Other Levels
  • CPR+3
• Cooperation pillars:
  • Political Cooperations
  • Economic Cooperations
  • Socio-cultural Cooperations
• Other themes:
  • Other Tracks
  • Science, Technology and Innovation
  • Minerals
  • Labour
  • Gender
  • Rural Development and Poverty Eradication
  • Health
  • Education
  • Environment
  • Information and Media
  • Culture and Arts
  • Civil Service
  • Youth
  • Social Welfare and Development
  • Finance Integration
  • Tourism
  • Food, Agriculture, and Forestry
  • Energy
  • Transnational Crime and Illicit Drugs
  • Political Security