MAGELANG, CENTRAL JAVA, INDONESIA — Department of Trade and Industry (DTI) Secretary Fred Pascual participated in the 29th ASEAN Economic Ministers’ Retreat (29th AEM Retreat) on 22 March 2023 to deliberate and endorse the economic priorities that ASEAN will pursue under Indonesia’s Chairmanship with the banner theme, “ASEAN Matters: Epicentrum of Growth.”

Secretary Pascual noted that the theme is timely given ASEAN’s emerging role in leading regional economy integration efforts. He likewise expressed that the 16 PEDs under the following strategic thrusts: (1) Recovery and Rebuilding; (2) Digital Economy; and (3) Sustainability, will ensure that this momentum of economic growth and post-pandemic efforts will be maintained beyond 2025.

The ASEAN Economic Ministers (AEM) also discussed other initiatives such as the ASEAN Trade in Goods Agreement (ATIGA) Upgrade Negotiations and the implementation of the Regional Comprehensive Economic Partnership (RCEP) Agreement.

During the said meeting, Secretary Pascual was also joined by Indonesian Chair, H.E. Zulkifli Hasan; fellow ASEAN Economic Ministers: H.E. Dr. May Fa’ezah Ahmad Ariffin of Brunei Darussalam, H.E. Pan Sorasak of Cambodia, H.E. Dr Jerry Sambuaga of Indonesia, H.E. Malaithong Kommasith of Lao PDR, H.E. Tengku Datuk Seri Utama Zafrul Bin Tengku Abdul Aziz of Malaysia, Ms. Alpana Roy (representing H.E. Gan Kim Yong of Singapore), H.E. Wanchai

Varavtihva of Thailand, H.E. Tran Quoc Khanh of Viet Nam; and recently appointed ASEAN Secretary General Dr. Kao Kim Hourn.

Also in attendance was H.E. Jose Lucas do Carmo da Silva, following the observer status granted to Timor-Leste during 40th and 41st ASEAN Summit in November 2022. *

Date of release: 22 March 2023