JakartaGlobe-Apr 7, 2023

Regional economic bloc ASEAN is still on the path to materialize the target of doubling trade and investment values among its member states despite global uncertainties due to the Covid-19 pandemic and the war in Ukraine, Secretary-General Kao Kim Hourn said in a recent interview with Jakarta-based BTV network.

The target was set by the ASEAN Free Trade Area (AFTA) Council in 2017, two years after the regional economic integration fully came into effect, to be achieved by 2025.

In 2017, the value of intra-ASEAN trade in goods was around $590 billion, while intra-ASEAN investment stood at $26.5 trillion. “At the AFTA Council, they want to double the amount of intra-trade and investment … they want to see the numbers double by 2025,” Hourn told BTV in the interview aired on Thursday. Despite the escalating geopolitical tension due to Russia’s invasion of Ukraine and the global economy yet to fully recover from the wounds inflicted by the pandemic, “I think the prospect is still quite positive”, the Cambodian said. Read more at: https://jakartaglobe.id/business/asean-maintains-target-to-double-intraregion-trade-investment