Shangri-La Hotel, Singapore
April 26, 2018

Prior to the 32nd Association of Southeast Asian Nations (ASEAN) Summit and Related Summits, ten Economic Ministers from the ASEAN Member States (AMS) convene for the opening ceremonies of the 16th ASEAN Economic Council (AEC) Meeting at the Shangri-La Hotel in Singapore on April 26, 2018.

The AMS Economic Ministers discuss important matters regarding the region’s economy and accomplishments under the ASEAN Economic Community. In his opening remarks, Singapore Trade and Industry Minister Lim Hng Kiang said that ASEAN’s economic outlook remained positive and robust despite uncertain economic environment.

“With 4.8% in 2016, ASEAN’s growth is expected to accelerate by 5.2% in 2017 and 2018. With our youthful population, growing middle class and increasing urbanization, ASEAN is well-poised to realize the potential to become the fourth largest economy in the world by 2030,” he said.

The AEC Council Meeting embodies this year’s theme of the ASEAN, which focuses on resilience and innovation. The Economic Ministers remain committed in preparing the ASEAN region for a deeper connectivity, as well as a region for unified trade and economic activities.

Department of Trade and Industry (DTI) Secretary Ramon Lopez represents the Philippines in the meeting.

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