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.
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.
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)
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.
Thailand approves COVID-19 AstraZeneca vaccine for emergency use
The first lot of 50,000 doses of COVID-19 vaccine developed by AstraZeneca will arrive in Thailand early next month, after...
Interprovincial travel in Thailand amid COVID-19 controls
The State Railway of Thailand (SRT) is suspending 57 additional train services from 26 January, 2021, as part of the...
Covid-19 puts flexible space markets under strain
In the wake of operator defaults, landlords will be forced to re-evaluate the role of flexible space in their portfolios.
Thailand to put world’s largest floating solar farm into use this June
The facility, which generates power on a water surface of 72 hectares, was originally scheduled for operation in December last...
TAT launches virtual tours to 4 top destinations in Thailand
Once inside an attraction, visitors can move around using the cursor, while some of the attractions have information about its...
Thailand’s automotive sector expected to produce 1.4m cars this year
This increase in output is a result of the recovery of domestic and export markets, with the annual output for...
Subscribe via Email
Forex1 week ago
Leverage from Forex Brokers & How Beginners Can Benefit from It
Economics5 days ago
Thai economy to grow 4% in 2021 following 6.5% decline in 2020
National5 days ago
Human trafficking cases in Thailand hit decade low due to COVID-19
Banking1 week ago
Can Fintech drive a strong post-COVID-19 recovery in Asia?