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By APD writer Alice
The Association of Southeast Asian Nations (ASEAN) and the Republic of Korea (RoK) or South Korea have agreed to work closely together for common prosperity through expanding trade agreements and promoting security and stability in the region.
The commitment was made by leaders of 10 ASEAN member countries and RoK President Moon Jae-in in a co-chairs' statement adopted at the end of the ASEAN-RoK Commemorative Summit, which took place on November 25-26 in Busan to mark the 30th anniversary of dialogue relations between the two sides.
Under the 43-clause statement, the two sides agreed to expand trade in goods and services, and investment toward the goal of raising the bilateral trade to 200 billion USD by 2020.
They also welcomed the developments in negotiations for the Regional Comprehensive Economic Partnership (RCEP) by 15 participating countries and called for further steps to be taken so that the agreement can be finalized next year.
To better respond to growing transnational crimes, cybersecurity threats and terrorism, the leaders reiterated their commitment to further collaboration in training and capacity building of law enforcement personnel.
The two sides were also urged to enhance partnerships in smart agriculture, energy and future mobility to better respond to the challenges ahead amid the fourth industrial revolution, as well as to encourage new business opportunities for startups.
In the statement, ASEAN valued the RoK's support of its perspective on the Indo-Pacific region and the concept of ASEAN centrality in the regional architecture.
The sides also hailed the New Southern Policy, a signature policy initiative of the RoK government centered on deepening ties with ASEAN and India.
To that end, the two sides reaffirmed their commitment to strengthening cooperation for regional security through the various ASEAN-led dialogue mechanisms, such as the ASEAN Plus Three, the ASEAN Regional Forum and the East Asia Summit.
(ASIA PACIFIC DAILY)
