The Philippines joined other ASEAN member states and the United Kingdom in endorsing the work plan for the implementation of the ASEAN-UK Joint Ministerial Declaration on Future Economic Cooperation during the 2nd ASEAN Economic Ministers-UK Consultations held at the sidelines of the 40th and 41st ASEAN Summit in Phnom Penh, Cambodia.

Trade and Industry Secretary Alfredo E. Pascual joined other ASEAN and UK trade ministers in endorsing the Work Plan to implement the dialogue partnership, which the United Kingdom sought following its exist from the EU.

The work plan is expected to further strengthen and set the direction of ASEAN and the UK’s economic relations. It builds on existing initiatives and possible cooperation programs between ASEAN and the UK in the areas of sustainable growth, infrastructure development, and digital transformation, which are important areas for ASEAN’s economic integration and post-pandemic recovery efforts.

As the country coordinator for ASEAN-UK economic relations, the UK welcomed the efforts of the Philippines in facilitating the finalization of the Work Plan and highlighted the strong interest of the region to further implement economic cooperation initiatives with the UK. Both sides were also encouraged to continue working together to achieve shared objectives.

At the Meeting, ASEAN Economic Ministers also appreciated the UK for their support to ASEAN in the past years, particularly in the areas of digital innovation, financial services, sustainable growth, and infrastructure, among others.

Pascual also met with the Minister of State for the Department of International Trade, Greg Hands, for a bilateral meeting. Both sides expressed interest in further developing the two countries’ partnerships in renewable energy, creative industry, and digitalization.

Meantime, Pascual also led the Philippine Delegation during the 21st ASEAN Economic Community Council (AECC), which serves as the culmination of a series of high-level meetings under the ASEAN Economic Pillar for Cambodia’s ASEAN 2022 Chairmanship of the 40th and 41st ASEAN Summit and Related Meetings.

At the said meeting, AECC Ministers discussed the status and implementation of Cambodia’s Priority Economic Deliverables (PED) for their ASEAN 2022 Chairmanship. Of these key PEDs and annual priorities, Trade Secretary Pascual welcomed the progress made by ASEAN in facilitating economic integration in the region especially in the areas of trade facilitation, movement of natural persons, digital transformation, and sustainable economic development.

He also stressed the expansion of the List of Essential Goods to cover vaccines and vital supplies and equipment to address supply chain resiliency and connectivity, as well as the substantial conclusion of the negotiations for the Protocol to Amend the ASEAN Agreement on Movement of Natural Persons which is seen to facilitate the entry and exit of working professionals in the region.

Pascual also highlighted the importance of deepening trade and investment relations with ASEAN’s key trading partners as a vehicle for post-pandemic economic recovery. To this end, he welcomed the substantial conclusion of negotiations for the Protocol to Amend the ASEAN Agreement on Movement of Natural Persons, and reiterated the commitment of the Philippines to join the Regional Comprehensive Economic Partnership (RCEP) Agreement as soon as possible.

The meeting also discussed Indonesia’s priorities as they take on ASEAN’s Chairmanship next year, as well as ASEAN’s vision post-2025 as it approaches the tail end of its ASEAN Economic Community Blueprint 2025.

The AECC Ministers are expected to join their respective Leaders at 40th and 41st ASEAN Summit.