ASEAN Signals Readiness To Upgrade Trade Pact With Japan
Satvinder Singh, Deputy Secretary-General for the ASEAN Economic Community, said the ASEAN-Japan Comprehensive Economic Partnership (AJCEP), signed in 2008, needs a refresh to reflect new trade priorities.
'The agreement we have today was framed decades ago…Timing-wise, it may be like how we have upgraded agreements with China, Australia, New Zealand and India,' he told reporters at a joint press conference with Malaysia's Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz during Expo 2025 Osaka.
Recent ASEAN trade upgrades have introduced pillars such as e-commerce, innovation, supply chain resilience and sustainability, areas Satvinder believes should also be part of a revised deal with Japan.
He stressed that shifting geoeconomic realities and Japanese firms' interest in reconfiguring ASEAN operations make the upgrade 'more valuable than ever'.
Tengku Zafrul said upcoming meetings, including the ASEAN Economic Ministers' Meeting in September and the ASEAN Leaders' Summit in October, will be key opportunities to deepen economic ties.
'Constant dialogue builds trust, and that trust will build a better ASEAN and Asia,' he said.
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