Asean bolsters ties with partners amid rising protectionism

VIENTIANE, Laos – Asean deepened its relationships with several key partners on the second day of its annual gathering, in what Singapore Prime Minister Lawrence Wong said was a signal of the grouping's commitment to free trade and staying open at a time of growing protectionism.

- Tan Tam Mei

On Oct 10, leaders of the 10-member Asean took steps towards concluding an upgraded free trade pact with China, bolstered its ties with South Korea, and also urged Japan to update its economic agreement with the grouping, in a series of multilateral meetings held in Vientiane, Laos.

Addressing fellow Asean leaders as well as counterparts from China, Japan and South Korea during the Asean Plus Three (APT) summit, PM Wong said that the APT platform provided a strong foundation for the continued peace, stability and prosperity of the wider region.

Still, more can be done to bolster cooperation in areas including supply chain connectivity, as well as in the digital and green economies, said PM Wong.

“By promoting tangible cooperation in these areas and more, the APT can provide Asean with a strong anchor, and help us to develop a more open, inclusive and vibrant East Asia region.”

PM Wong also called on China, Japan and South Korea to collaborate with Asean on the digital and green energy fronts, mainly through the Digital Economy Framework Agreement that is set to be finalised in 2025, and to help develop infrastructure and norms for cross-border trading of renewable energy.

Touching on the importance of strengthening supply chain connectivity, PM Wong said the Covid-19 crisis had exposed vulnerabilities in this area and underscored the need for economies to remain connected and resilient by keeping supply chains open amid the increasingly uncertain global environment.

PM Wong also warned of further crises in the future, which is why Asean and its partners should work on building collective resilience to future shocks.