TRANSCRIPT OF DEPUTY PRIME MINISTER AND MINISTER FOR TRADE AND INDUSTRY (TRADE) GAN KIM YONG’S MEDIA DOORSTOP ON THE 28th ASEAN ECONOMIC COMMUNITY COUNCIL (AECC) MEETING

I am very happy to be here in Manila for the 28th AECC meeting, and this is a very important meeting. As we know, the world is facing many challenges – fragmentation of a global economy; geopolitical tension – and it is important for ASEAN to come together to explore ways to further strengthen our integration, and to also expand our collaboration with one another, as well as with our partners. I am very happy to see good progress being made this year – over the one whole year of ASEAN, under Philippines’ Chairmanship. I think this is very encouraging.

Today, we have witnessed the signing of the Digital Economy Framework Agreement (DEFA). It has taken us several years in negotiating this agreement, and as many would appreciate, this is a very complex agreement, given that the state of readiness among our member countries in digital economy is very diverse. To be able to negotiate an agreement that is on one hand sufficiently ambitious, at the same time acceptable to all member countries, is not easy. We need to discuss how we can push the boundaries, yet at the same time accommodate each other's diversities. I am very happy to see the conclusion, and that eventually we signed the agreement today. The next step is for us to look forward to the agreement to come into force, and hopefully that will happen sometime early next year.

Following that, we will have to focus on the implementation of the agreement. We hope that by the time we have the agreement come into force, we will already be ready with a few initiatives, with a few projects, that we can embark on to benefit our businesses and our people. Some of the ideas, as Chairperson mentioned earlier, would include things like digital payment system, digital identity, electronic trade documentation, as well as inter-operability. I think this is digital connectivity, in a way, to connect ASEAN better to one another. This is over and above the physical connectivity that we have been working on – supply chain resilience, shipping connectivity, and so on. This is an additional aspect of connectivity that is digital in nature. So, this is one aspect of ASEAN integration that we are very happy to see advancing.

Secondly, we are also on track for the entry-into-force of ATIGA, ASEAN Trade in Goods Agreement, and we are happy to see progress being made. I mentioned earlier, during the last meeting in Manila, that we are working towards bringing it into force earlier so that we can bring the benefits to our businesses earlier. So I think this is one example that we are able to work together. Originally, it was scheduled for next year, but we have decided to bring it forward, and we hope to be able to bring it into force by the end of this year. That is another area where we have made good progress in ASEAN integration.

In this meeting, we also received an interim update on the feasibility study on the Green Economy Framework Agreement (GEFA). So, as you know, even before we signed the Digital Economy Framework Agreement, we have started thinking about the Green Economy Framework Agreement, and therefore we have embarked on the feasibility study. Today we received an update, and we hope to be able to complete the study soon and launch the GEFA discussion next year. So these are efforts to further integrate ASEAN.

But beyond ASEAN, we are also looking at engagement with our partners to see how we can also expand our cooperation and integration with economies outside ASEAN. One example is the ASEAN-Canada Free Trade Agreement. I think we are making progress towards a substantial conclusion, and for it to be announced by our leaders in time to come. So we are confident, and we hope to see further progress in this area. We are also discussing several other potential FTAs’ negotiations with our partners. I think in time to come, we will see ASEAN playing an even more important role in the regional economy, as well as with our partners.

Next year, Singapore will be taking over the Chairmanship of ASEAN. It is also a landmark year because ASEAN will be commemorating the 60th anniversary. It's an important year, and Singapore hopes to build on the progress that has been made during Philippines’ Chairmanship year, and as I have mentioned, we have made very good progress, and Singapore hopes to continue to build on it. We are very grateful to our host in Manila, that has not only been very hospitable to my delegation and I, but also have been very able in the leadership in bringing ASEAN forward and making important progress during this year, and has met many of the Priority Economic Deliverables (PEDs). These are important foundations that we have built over the last 12 months. When Singapore takes over, we are taking over the ASEAN Chairmanship in very good shape, and we hope to continue to build on this foundation and to achieve even greater progress in in the year to come. Thank you.