Deputy PM discusses problems facing ASEAN Economic Community

Deputy Prime Minister Vuong Dinh Hue (R) and ERIA President Hidetoshi Nishimura (Source: VNA) 

Hanoi (VNA) – Deputy Prime Minister Vuong Dinh Hue discussed
problems facing the ASEAN Economic Community with a delegation from the
Economic Research Institute for ASEAN and East Asia (ERIA) during a reception
in Hanoi on July 18.

The Deputy PM thanked
ERIA for coordinating with the Vietnamese Foreign Ministry to hold a seminar
entitled “50 years of ASEAN: ASEAN Economic Community – opportunities for
Vietnamese enterprises” scheduled for July 19.

He wished that ERIA experts would share research results
with the Vietnamese government, especially those regarding the Comprehensive
Plan to build ASEAN Economic Community (AEC) 2025.

Mentioning the future of ASEAN and ASEAN Economic Community
(AEC), Hue expressed concern about possible risks and conflict regarding
exchange rates as the Community has no common currency and fiscal year. He
cited the unstable of some currencies in the community, and urged ERIA to
research an appropriate orientation for the AEC in the matter. 

The Deputy PM also discussed the connectivity between ASEAN
and the East Asia, the role of Japan and several East Asian countries in
connecting Vietnam and East Asia as well as negotiations on the Regional
Comprehensive Economic Partnership (RCEP).

Other issues of Vietnam’s concern included the emerging
trend of trade protection, trade facilitation, technical barriers, fraud
prevention, among others.

ERIA President Hidetoshi Nishimura said ERIA will work
closely with the Vietnamese government, Foreign Ministry, ministries and
agencies concerned to ensure that Vietnam will successfully assume the role of
ASEAN Chair by 2020.

The delegation shared research results about ASEAN Economic
Community and Vietnam in particular, future orientations and challenges.

They lauded Vietnam for succeeding in administrative reform
and improving private sector’s involvement in policy reform.-VNA

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