Cambodia has set out four Key Strategic Thrusts under ASEAN Economic Community Pillar to speed up regional economic recovery and boost resilient economic growth.
The remarks were made by Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia, at the opening ceremony of the 54th ASEAN Economic Ministers’ Meeting and Related Meetings in Siem Reap provincial city this morning.
The four strategies include Enhancing Digital Connectivity, Science and Technology; Narrowing Development Gap for ASEAN’s Competitiveness; Promoting a More Integrated, Inclusive, Resilient and Competitive ASEAN; and Global ASEAN for Growth and Development, he pointed out.
Cambodia, as the Chair of ASEAN in 2022, under the theme “ASEAN A.C.T: Address Challenges Together”, has placed priority on ensuring ASEAN’s effectiveness in responding to challenges and risks, especially accelerating the recovery and promoting sustainable, inclusive and resilient economic growth, the Premier underlined.
In fact, he recalled during the past 30 years of regional economic integration, since the establishment of the ASEAN Free Trade Area (AFTA) in 1992 and the adoption of the ASEAN Economic Community Master Plan 2015 and 2025, we have been working in unity to establish ASEAN region as a single market and production base by deepening trade and investment liberalisation in compliance with international law and multilateral trading system. These efforts have made significant contribution to strengthening the development of ASEAN in all sectors, particularly transforming ASEAN into the third largest economic power in Asia and the sixth largest in the world.
“Unfortunately, although we have achieved great success in the fight against Covid-19 pandemic over the past two years, the building process of our economic community has continued to be hindered by the constant changes of regional and global economic-trade architecture caused by many complex and inter-connected issues, including: prolonged Covid-19 pandemic, war in Ukraine, escalation of bloc division and multi-polar system, trade and technology war, and climate change, etc. These factors have led to sharp rise in inflation, disruption in global value chains and productivity, and, in particular, significantly decelerated regional and global economic recovery,” he said.
While the world is facing many obstacles in development, ASEAN should continue attaching greater importance in maintaining the trading system on the basis of rule-of-law, globalisation principle, multilateralism mechanism as well as liberalisation of trade and investment; anti protectionism, fostering resilience of regional and global supply chains, connectivity and logistic, digital economy, environmental protection, clean energy, sustainable development and food security while continuing the fight against Covid-19 pandemic as well as making stronger efforts to enhancing regional and global economic recovery with resiliency and sustainability.
In addition, Samdech Techo Hun Sen continued, ASEAN Vision Post 2025, in which ASEAN is developing, should strategically focus on addressing new emerging issues such as rapid development of digital economy and narrowing digital gap in the region, strengthening resilience of ASEAN against disasters and pandemic, promoting the development of green economy, protecting migrant workers, building skilled-workforce, and developing small and medium enterprises, etc.
