Cambodia Sets 4 Key Strategic Thrusts for ASEAN

As the Chair of the ASEAN for 2022, Cambodia has set “4 Key Strategic Thrusts” under the ASEAN Economic Community (AEC) pillar, said Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen while presiding over here this morning the opening ceremony of ASEAN Business and Investment Summit (ABIS) 2022.

According to Samdech Techo Hun Sen, the “4 Key Strategic Thrusts” include (1). Enhancing digital connectivity, science, and technology, (2). Narrowing development gap for ASEAN’s competitiveness, (3). Promoting a more integrated, inclusive, resilient, and competitive ASEAN, and (4). Global ASEAN for growth and development, with the aim to promote sustainable, inclusive, and resilient growth.

Based on this foundation, ASEAN members have actively made efforts to achieve remarkable progress on the approved 19 Priority Economic Deliverables, he added.

Even though the COVID-19 crisis has significantly lessened globally, he continued, the situation and outlook of the global economy is still fragile and prone to new crises, as we continue facing new and increasingly complex challenges that are occurring one after another in economic, social, environmental, and geo-political aspects. In this sense, ASEAN must continue adhering to the principles of multilateral trading system and enhancing trade liberalisation to promote ASEAN as an open, transparent, and inclusive region while maintaining “Centrality” and “Unity ASEAN” in building global and regional relations. Furthermore, ASEAN must also update existing Free Trade Agreements and Comprehensive Economic Partnership Agreements to ensure that these agreements are modern, up-to-date, improved and effectively responsive to current business and investment trends, he added.

At the same time, Samdech Techo Hun Sen also taking this opportunity to emphasise that the Regional Comprehensive Economic Partnership (RCEP) marks an important achievement for ASEAN as we have been keeping up with our efforts to open up the economy and diversify our regional markets.

“I firmly believe that this huge free trade agreement will boost trade activities both inside and outside of ASEAN, as well as promote broader regional economic integration. Thus, at the opening ceremony of the 55th ASEAN Foreign Ministers’ Meeting and Related Meetings in August, in Phnom Penh, Cambodia has proposed the establishment of the RCEP Secretariat in Phnom Penh as a demonstration of Cambodia’s commitment to free and open trade in ASEAN,” he said.

Samdech Techo Hun Sen reiterated that as the Chair of ASEAN 2022, Cambodia fully supports the ASEAN Business and Investment Summit (ABIS). Cambodia affirms the commitment to collaborate closely with ASEAN Member States and all ASEAN Dialogue Partners in leading the AEC toward resiliency, sustainability, inclusiveness, and competitiveness.