Member states of the Association of Southeast Asian Nations (ASEAN) have agreed to explore further ways to strengthen supply chains in the region to bolster economic recovery from the COVID-19 pandemic, said Singapore’s Ministry of Trade and Industry (MTI) on Wednesday.
These include the importance of continued unity and “open, rules-based regional economic integration” as member states navigate economic uncertainties such as inflationary pressure and economic disruption from “geopolitical complexities” and the pandemic.
He also said there was a need for ASEAN to act swiftly in response to current challenges, through strengthening regional supply chains and upgrading ASEAN’s free trade agreements. ASEAN should also position itself as a “progressive and dynamic regional bloc” through cooperation in emerging areas such as digital and green economies.
