Vientiane, September 19 (AseanAll)  — The Third AEM Troika Open-ended Dialogue with Switzerland was held on 19 September 2024, in Vientiane, Lao PDR. 

The Third AEM Troika Open-ended Dialogue was co-chaired by Malaithong KOMMASITH, Minister of Industry and Commerce of Lao PDR, and State Secretary Helene Budliger Artieda, Director of the State Secretariat for Economic Affairs (SECO) of Switzerland. 

The Meeting also welcomed the participation of Filipus Nino Pereira, Minister of Commerce and Industry, the Democratic Republic of Timor-Leste as an observer.

The Meeting noted, according to ASEAN’s preliminary statistics, the total value of two-way merchandise trade between ASEAN and Switzerland which amounted to USD 28.5 billion in 2023. The Meeting further noted that the total foreign direct investment (FDI) inflow from Switzerland to ASEAN in 2023 reached USD 5.2 billion, which placed Switzerland as ASEAN’s 9 largest source of FDI in 2023.

The Meeting welcomed the finalisation and adoption of the ASEAN-EFTA Joint Declaration on Cooperation (JDC), in the presence of all EFTA Member States. The Meeting underscored the potential of the ASEAN-EFTA JDC for closer cooperation and collaboration between ASEAN and EFTA in priority sectors such as trade in goods, trade in services, electronic commerce, investment, intellectual property rights, public procurement, competition policy, innovation and emerging technologies, trade and sustainable development, and consumer protection. 

The Meeting looked forward to the implementation of the ASEAN-EFTA JDC and emphasised the importance of aligning its implementation with existing ASEAN initiatives in the aforementioned areas and with the economic cooperation between ASEAN and Switzerland in the framework of the sectoral dialogue partnership. Switzerland has been a long-term development partner of many ASEAN countries focusing on sustainability, the integration into global markets and inclusive economic development. The Meeting expressed optimism that the implementation of the JDC would lead to expansion and diversification of trade and investment between ASEAN and EFTA. 

The Meeting noted the past economic cooperation projects between ASEAN and Switzerland, including those on biotrade, nature-based solutions, responsible investment in food, agriculture and forestry, as well as cybersecurity. The Meeting expressed its appreciation to Switzerland for their support to these projects, whichcontributed to ASEAN’s community-building efforts. The Meeting looked forward to Switzerland’s continued support in this endeavour.

The Meeting exchanged views on regional and global economic challenges that could likely impact supply chain resiliency in the region, such as climate change, industrial policies, inflationary pressures and heightened geopolitical tensions, among others. The Meeting reaffirmed their commitment to further enhance economic integration and cooperation, particularly in the areas of digital transformation and sustainability, to navigate these challenges and strengthen the supply chain resiliency. 

The Meeting acknowledged the successful conclusion of the Thirteenth World Trade Organization (WTO) Ministerial Conference (MC13) held on 26 February – 2 March 2024 in Abu Dhabi, United Arab Emirates. The Meeting noted the outcomes of the MC13 including WTO Members’ resolve to preserve and strengthen the ability of the multilateral trading system, with the WTO at its core, to provide meaningful impetus to respond to current trade challenges, take advantage of available opportunities, and ensure the WTO’s proper functioning. The Meeting, in particular, welcomed the Ministerial Decision on the Accession of the Democratic Republic of Timor-Leste to the WTO Agreement. The Meeting acknowledged that Timor-Leste’s accession to the WTO is an important stepping stone for Timor-Leste’s accession to ASEAN. The Meeting was also pleased to note specific outcomes of the WTO MC13 that reiterated the centrality of the development dimension in the work of the WTO. 

The Meeting noted the progress in the implementation of the Roadmap for TimorLeste’s Full Membership in ASEAN adopted at the 42nd ASEAN Summit. Encouraged by Timor-Leste’s commitment, the Meeting reaffirmed its support to continue providing capacity building and technical assistance to facilitate Timor-Leste’s integration into the mainstream of ASEAN-Switzerland economic relations, in the framework of the sectoral dialogue partnership.