Economic ministers from the 10 Asean countries and from the plus three partners China, Japan and Korea agreed economies in the region should refrain from imposing unnecessary non-tariff measures that may derail the production and supply of essential goods and mitigate the impact of the new coronavirus disease 2019 pandemic on business.
In a video conference last week, the ministers affirmed the need to keep the markets open for trade and investment, ensure stable supply and smooth flow of essential goods, continue cooperation towards food security and sustainability of regional supply chains, especially for food, medicines, medical and other essential supplies in the region.
Ramon Lopez, secretary of the Department of Trade and Industry (DTI) pushed for the possible creation of an Asean Emergency Reserves for critical medicines and medical supplies for the region to be fully equipped should there be another similar crisis in the future.
The ministers also highlighted the need to support businesses, especially micro, small and medium enterprises the importance of innovation and technologies to continue business operations Lopez said the ministers were one in pushing for the strengthening of the region’s supply chain and ensuring greater cooperation to expedite economic recovery from the COVID-19 pandemic.