17th ASEAN Economic Ministers’ Retreat

Media Release

17th ASEAN Economic Ministers’ Retreat

26-27 February 2011, Vientiane, Lao PDR

The 17th ASEAN Economic Ministers’ Retreat will be held on 26-27 February 2011 in Vientiane, Lao PDR. Y.B. Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry will represent Malaysia at the Retreat.

The Ministers are expected to review and deliberate on the progress made in the implementation of measures to realise the ASEAN Economic Community (AEC) by 2015. The Ministers will also deliberate on ways to enhance corporation in areas such as intellectual property rights, competition policy, labour, environment, consumer protection and equitable development within the region.

At the Retreat, the Ministers will discuss the progress in the implementation of the various free trade agreements with Dialogue Partners, including implementation related issues.

The Ministers also will discuss on the future strategic direction of ASEAN over the next few years and beyond the AEC 2015 goal. A major challenge faced by ASEAN is to continuously enhance ASEAN’s ability to remain as a global centre for attracting FDIs.

The implementation of the AEC Blueprint measures for the first phase of 2008-2009 has been mostly completed. The average implementation rate is 83.8 per cent. The outstanding measures will be implemented under the second phase covering the period of 2010-2011. There are 140 measures to be implemented under the AEC Blueprint for the second phase. Two more phases are scheduled to be completed until the target realisation date of 2015.

Ministry of International Trade and Industry

24 February 2011

ENDS

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