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Jakarta (VNA) - The online ASEAN Customs Transit System (ACTS) was officially launched on November 30 to accelerate trade in goods by road within Southeast Asia. In 2017, ASEAN economic ministers set the twin goals of reducing trade transaction costs by 10 percent by 2020 and doubling intra-bloctrade between 2017 and 2025. ACTS has been developed to realise this goal to allow businesses to lodge e-transit declarations directly to ASEAN customs authorities and track the movement of their goods from loading to delivery. Being developed with the support of the European Union, ACTS is simplifying the movement of goods across the region, making it more efficient and cost-effective.  Following trials in Cambodia, Laos, Malaysia, Singapore, Thailand, and Vietnam, the system has now been formally launched. The first successful ACTS transit movement occurred on October 23-24 when a truck travelled from Singapore via Malaysia to … [Read more...] about ASEAN customs transit system launched

Jakarta (VNA) – The Indonesian Directorate General of Customs and Excise recently hosted the fourth Joint Customs Middle-Management Programme (4th JCMMP), attracting representatives from eight ASEAN Member States and Australia. As a foundation to the networking platform for future customs leaders of the region, the two-day virtual event, promoted knowledge and experience sharing on handling emerging issues in the region, and strengthening the relationships of ASEAN Customs administrations’ middle-management level officers. Participants discussed various topical issues, such as lessons-learned from the COVID-19 outbreak, coordinated border management, eradicating drugs smuggling, managing illicit trade in waste and other environmentally sensitive commodities, risk management, cooperation between Customs and Tax Authorities, and establishment of effective joint border protection to combat transnational organised crime. They also joined a fireside-chat session with the … [Read more...] about ASEAN customs officers strengthen cooperation network

Hanoi (VNA) – The seventh ASEAN Air Forces’ Education and Training Working Group (AAFET-WG 7) opened in Hanoi on October 6. The online event, chaired by Colonel La Dai Phong, Deputy Chief of Staff of the Air Defence - Air Force under the Vietnamese Ministry of National Defence, attracted the participation of defence and air force attachés of nine ASEAN countries in Vietnam. The conference aims to prepare for the 17th ASEAN Air Chiefs Conference (AACC-17). During the two-day event, delegates discussed some contents, such as exchanging views on and adopting regulations on humanitarian assistance and disaster relief of the ASEAN’s Air Forces; exchanging opinions on flight safety assurance; and making plans to prepare for field drills on humanitarian aid and assistance in Thailand in 2021./. … [Read more...] about 7th ASEAN Air Forces’ Education and Training Working Group held virtually

Hanoi (VNA) - Deputy ministers of finance and deputy governors of central banks in ASEAN and the US gathered together at an online meeting on October 1, held as part of the ASEAN Finance Ministers and Central Bank Governors’ Meeting hosted by Vietnam. The dialogue between finance-banking sectors in ASEAN and the US Department of the Treasury is an annual event considered important for sharing information and views on finance-banking and helping relevant parties effectively coordinate macro-economic policies. Participants discussed several issues of regional and global concern, including economic policies in response to COVID-19, the transparency of public debt and financial management, and finance for infrastructure development. They shared the view that as the global economy is facing an array of difficulties and challenges, close bilateral and regional cooperation among countries’ finance-banking agencies has a crucial role to play. Deputy Minister of Finance Tran … [Read more...] about ASEAN, US finance, central bank deputies’ meeting held

Hanoi (VNA) - Solutions to promoting sustainable finance in ASEAN, digital transformation in the financial service sector amid the fourth Industrial Revolution, comprehensive financial solutions, and regional digital commerce links were on the agenda of the 6th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM), held online on October 2. In his opening remarks, Minister of Finance of Vietnam Dinh Tien Dung emphasised that the annual dialogue between ASEAN Finance Ministers and Central Bank Governors and representatives of member groups of the ASEAN Business Advisory Council, the EU-ASEAN Business Council, and the US-ASEAN Business Council has created a forum for managers and policy makers to openly exchange views on issues of concern in the region and the world. He highlighted the necessity of implementing solutions to mobilise and use public finance effectively and mobilising private resources and donor development assistance for sustainable … [Read more...] about ASEAN 2020: Meeting held promoting regional sustainable finance