Chief Negotiator Heads to Cambodia... Attends ASEAN Ministerial Meeting and More

Ahn Deok-geun, Director-General for Trade Negotiations, Departs to Discuss U.S. Electric Vehicle Subsidy Issues
(Yeongjongdo=Yonhap News) Reporter Shin Hyun-woo = Ahn Deok-geun, Director-General for Trade Negotiations at the Ministry of Trade, Industry and Energy, is answering reporters' questions as he departs from Incheon International Airport Terminal 2 on the morning of September 5th to discuss issues related to the Inflation Reduction Act (IRA), which stipulates subsidies only for electric vehicles produced in North America. 2022.9.5
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[Asia Economy Sejong=Reporter Lee Jun-hyung] Ahn Deok-geun, head of the Trade Negotiation Department at the Ministry of Trade, Industry and Energy, headed to Cambodia for the ASEAN (Association of Southeast Asian Nations) Economic Ministers' Meeting.

The Ministry of Trade announced on the 15th that Ahn will attend the ASEAN-related Economic Ministers' Meeting held in Siem Reap, Cambodia, from the 16th to the 18th. Ahn will consecutively participate in several international meetings held in Cambodia, including the '19th Korea-ASEAN Economic Ministers' Meeting,' the '25th ASEAN+3 (Korea, China, Japan) Economic Ministers' Meeting,' and the '10th East Asia Summit (EAS) Economic Ministers' Meeting. Through this trip, Ahn plans to strengthen economic cooperation with ASEAN, a key country in the Indo-Pacific region, and discuss cooperation measures on new trade issues such as supply chain recovery, digital economy, and climate change response.

First, at the Korea-ASEAN Economic Ministers' Meeting, Ahn will review the implementation status of the Korea-ASEAN Free Trade Agreement (FTA). He will also discuss ways to expand trade cooperation, including digital norms, and strengthen supply chain cooperation between Korea and ASEAN through industrial cooperation in technology and standards. At this meeting, Ahn plans to propose a joint study on the vision for Korea-ASEAN international development cooperation projects to preemptively identify the medium- to long-term industrial cooperation demands of ASEAN countries.

At the ASEAN+3 Economic Ministers' Meeting, economic cooperation among the three countries?Korea, China, and Japan?and the ten ASEAN countries will be reviewed. Ahn will also discuss economic integration measures such as revitalizing intra-regional trade and investment through the Regional Comprehensive Economic Partnership (RCEP). At the EAS Economic Ministers' Meeting, economic and trade ministers from 18 East Asian countries, including the ten ASEAN countries, will exchange views on joint responses to recent trade issues such as restoring the multilateral trading system.

Ahn will also attend the '1st RCEP Economic Ministers' Meeting.' RCEP is a mega FTA involving 15 countries, including Korea, China, Japan, and the ten ASEAN countries. To promote the utilization of RCEP, which came into effect earlier this year, Ahn plans to review the status of establishing the RCEP implementation and utilization system, including detailed implementation procedures discussed recently in the joint committee. He will also discuss ways to stabilize supply chains and increase the utilization of RCEP by regional companies.

Meanwhile, Ahn will hold bilateral talks with trade ministers from major countries such as the Philippines and New Zealand, who are visiting Cambodia for the meetings. During these trade ministerial meetings, Ahn plans to discuss ways to strengthen economic cooperation and coordinate on trade issues.