Vietnam hands over EABC Chairmanship to RoK
Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc, who is also Chairman of the East Asia Business Council (EABC) in 2020 (Photo: VNA)
Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc, as Chairman of the East Asia Business Council (EABC) in 2020, recently handed over the EABC Chair to Hak-hee Jo, Executive Managing Director of the Korea International Trade Association.Priorities of the Council this year will focus on boosting post-pandemic recovery in tandem with comprehensive commerce development, promoting the Regional Comprehensive Economic Partnership (RCEP) agreement as a tool for economic recovery, and ensuring supply chains and facilitating cross-border business connectivity amid COVID-19.
The EABC Council will convene three meetings and those of working groups to prepare for dialogues between EABC and the ASEAN Senior Economic Official Meeting Plus Three (SEOM+3), and the ASEAN Plus Three Economic Ministers' (AEM+3).
Notably, the Council is to compile a report on recommendations of business communities in the region and submit to ASEAN 3 leaders at the EABC-ASEAN+3 dialogue, which is scheduled for November in Brunei.
Loc said that despite COVID-19, the EABC reaped fruitful results in 2020, citing as an example its RCEP working group’s contribution to a report of the Council on business communities’ support for the signing of the trade pact.
As a result, the RCEP was signed at the 37th ASEAN Summit and related ones. The agreement is the largest free trade agreement in ASEAN, covering 2.2 billion people and 26.2 trillion USD in GDP, equivalent to two thirds of the world.
In addition, during talks between the EABC and leaders of ASEAN+3 and AEM+3, the leaders welcomed and showed support for EABC activities which aim to bolster regional economic growth in the context of COVID-19.
They also spoke highly of the Council’s contribution to promoting the RCEP agreement./.
Related News
Vietnam is ready to welcome a new wave of investment in the semiconductor industry
16:08 | 15/05/2024 Headlines
Opportunities for Vietnam to participate in the global semiconductor industry value chain
11:34 | 15/05/2024 Import-Export
Ho Chi Minh City: Enterprises overcome difficulties, exports lead the country
14:58 | 10/05/2024 Import-Export
What to do to develop Vietnam's creative economy?
10:06 | 11/05/2024 Headlines
Latest News
Five groups of billion-dollar export commodities to China
09:58 | 16/05/2024 Import-Export
Footwear faces concerns about new regulations in export markets
14:39 | 15/05/2024 Import-Export
Vietnamese businesses struggle to get green credit
14:27 | 15/05/2024 Import-Export
"Improving quality, increasing quantity" of human resources in the semiconductor industry
11:31 | 15/05/2024 Import-Export
More News
Output simultaneously increased, many ports reported profits
14:47 | 14/05/2024 Import-Export
The Việt Nam Import-Export Report to be released Thursday
14:45 | 14/05/2024 Import-Export
Banks raise interest rates to attract depositors
14:44 | 14/05/2024 Import-Export
The fruit and vegetable industry has plenty of room for export in the five largest markets
13:55 | 14/05/2024 Import-Export
Desk established in Dong Nai to support Japanese investors
17:04 | 13/05/2024 Import-Export
Fishery enterprises prioritize exporting value-added processed products
13:30 | 13/05/2024 Import-Export
New trends in digital transformation for businesses
13:29 | 13/05/2024 Import-Export
India as main market for Vietnamese star anise exports
17:58 | 12/05/2024 Import-Export
Domestic auto market shows signs of recovery
17:57 | 12/05/2024 Import-Export
Your care
Five groups of billion-dollar export commodities to China
09:58 | 16/05/2024 Import-Export
Footwear faces concerns about new regulations in export markets
14:39 | 15/05/2024 Import-Export
Vietnamese businesses struggle to get green credit
14:27 | 15/05/2024 Import-Export
Opportunities for Vietnam to participate in the global semiconductor industry value chain
11:34 | 15/05/2024 Import-Export
"Improving quality, increasing quantity" of human resources in the semiconductor industry
11:31 | 15/05/2024 Import-Export