BANGKOK, 23 June 2019 (NNT) – Representatives from the private sector in the Association of Southeast Asian Nations (ASEAN) and the European Union (EU) held a business dialogue and resolved that ASEAN should adjust certain rules and regulations to be in line with international standards to facilitate trade in the region.
The EU-ASEAN Business Dialogue was held at the 34th ASEAN Summit in Bangkok. Attendees discussed non-tariff barriers to trade, such as rules, regulations and other mechanisms being implemented in the bloc.
Delegates from ASEAN and the EU agreed that some ASEAN member states are using different sets of rules and regulations.
The meeting resolved that ASEAN should standardize them to facilitate trade in the region.
ASEAN has placed great importance on addressing this issue, as the elimination of non-tariff barriers to trade is one of the agenda of the ASEAN Blueprint 2025.
This shows that ASEAN has been taking steps to remove non-tariff barriers to trade and narrow the development gap between its member states.