Connect with us

Asean

ASEAN and Republic of Korea (ROK) strengthen strategic partnership

ASEAN and the ROK agreed to further advance cooperation in areas of mutual interest including counter terrorism, transnational crime, cyber security, maritime cooperation, digital economy

Asean News

Published

on

BANDAR SERI BEGAWAN, 3 July 2019 – ASEAN and the Republic of Korea (ROK) agreed to further strengthen their strategic partnership at the 23rd Senior Officials Meeting in Bandar Seri Begawan today.

Both sides discussed ways and means to make the partnership more robust as they mark the 30th anniversary of their relations this year.

The meeting welcomed the substantive progress made in ASEAN-ROK cooperation over the past year including the implementation of decisions made at the ASEAN-ROK Summit in November 2018 as well as the ASEAN-ROK Plan of Action (2016-2020).

ASEAN and the ROK agreed to further advance cooperation in areas of mutual interest including counter terrorism, transnational crime, cyber security, maritime cooperation, digital economy, development of MSMEs, food and energy security, culture, people-to- people exchanges, education, disaster management, connectivity and narrowing the development gap.

They also agreed to develop a new five-year Plan of Action after the expiry of the current Plan at the end of this year.

The Senior Officials reaffirmed the commitment of ASEAN and the ROK to further enhance trade and investment, including intensifying efforts to achieve two-way trade volume of USD 200 billion by 2020, a target which the Leaders of ASEAN and the ROK agreed to in 2014.

The meeting took note of the ongoing preparations for the ASEAN-ROK Commemorative Summit to be held in November this year in Busan on the occasion of the 30th Anniversary of Dialogue Relations. Both sides agreed to continue working together to bring about substantive outcomes of the Commemorative Summit, including the issuance of a joint vision statement to add momentum to further strengthening of the partnership.

The ROK welcomed the adoption of the ASEAN Outlook on the Indo-Pacific which will serve as a guide for ASEAN’s engagement and cooperation in the wider Indo-Pacific region.

ASEAN appreciated the ROK’s continued support for ASEAN Community building efforts such as  through the implementation of the New Southern Policy initiated by President Moon Jae-in in 2017. The meeting welcomed the ROK’s plan to double its contribution to the ASEAN-ROK Cooperation Fund from currently USD 7 million to USD 14 million annually from the end of 2019 to support more joint programmes and projects.

The Senior Officials also discussed regional and international issues of common interest and concern such as the South China Sea and the situation on the Korean Peninsula. ASEAN welcomed the efforts made by the ROK in improving inter-Korea relations and the positive developments on the Korean Peninsula, in particular, the recent meeting between President Donald Trump and Chairman Kim Jong Un at the Demilitarised Zone of the Korean Peninsula, which eases the tension and maintains momentum of the peace process on the Peninsula.

         ***

Source link

Comments

Asean

The Latest on Covid-19 in Southeast Asia

Thailand has largely avoided widespread community transmission of Covid-19, but the kingdom is not faring well on the economic front, with a projected contraction of 7.1 percent this year.

Avatar

Published

on

Coronavirus Asia

As a region, Southeast Asia has fared relatively well in keeping coronavirus cases low, with the notable exceptions of the Philippines and Indonesia.

(more…)
Continue Reading

Laos

China’s debt-trap diplomacy: Laos’ credit rating downgraded to CCC

Laos’ debt challenge is deeply concerning, with some media commentators suggesting the country is falling into a debt trap as a result of Chinese infrastructure investments connected to the Belt and Road Initiative (BRI)

Boris Sullivan

Published

on

On 23 September, the Fitch Ratings agency downgraded Laos’ credit rating to CCC — the second downgrade in 2020, having dropped to B- in May.

(more…)
Continue Reading

Vietnam

Foreign capital still heads to Vietnam

As many as 798 projects added a combined over 5.11 billion USD to their investment capital, down 23 percent year-on-year in project number but up 6.8 percent in value.

Avatar

Published

on

Hanoi (VNA) – The total amount of foreign investment poured into Vietnam this year to September 20 reached 21.2 billion USD, equivalent to 81.8 percent of the same period last year, reported the Ministry of Planning and Investment.

(more…)
Continue Reading

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,632 other subscribers

Trending