Expanding Fast-Track Entry for Businesspeople to ASEAN Countries

Sung Yun-mo, Minister of Trade, Industry and Energy, Proposes at 'ASEAN+3 Economic Ministers Video Conference'

Sung Yoon-mo, Minister of Trade, Industry and Energy. / Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Moon Chaeseok] A plan to expand the 'fast track' that simplifies mutual entry procedures for businesspeople to the Association of Southeast Asian Nations (ASEAN) countries is being promoted.

The economic ministers of the 10 ASEAN countries and Korea, China, and Japan held a 'Special ASEAN+3 Economic Ministers Virtual Meeting' on the 4th and adopted a joint statement.

This is to minimize the impact of the novel coronavirus disease (COVID-19).

The meeting was held to discuss the implementation measures related to economic cooperation agreed upon by the leaders at the 'ASEAN+3 Special Virtual Summit' held last April.

The economic ministers of the 10 ASEAN countries, Korea's Minister of Trade, Industry and Energy Sung Yun-mo, China's Minister of Commerce, and Japan's Minister of Economy, Trade and Industry attended.

Minister Sung proposed cooperation measures to overcome the COVID economic crisis, including ▲ maintaining and expanding market openness and facilitating the movement of goods and services ▲ guaranteeing essential movement of businesspeople ▲ expanding cooperation in preparation for the post-COVID era.

In particular, regarding guaranteeing the movement of businesspeople, he suggested expanding the fast track for businesspeople's movement currently implemented between Korea and China to other countries within ASEAN.

The ASEAN+3 economic ministers attending the meeting agreed in the joint statement to establish guidelines to guarantee the essential movement of businesspeople.

They agreed to cooperate to refrain from non-tariff barriers and trade restrictive measures for the smooth movement of essential goods, strengthen the capabilities of small and medium-sized enterprises through the digital economy, and enhance regional economic integration through the signing of the Regional Comprehensive Economic Partnership (RCEP).

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