Eighth East Asia Summit Economic Ministers’ Meeting
Part of: GS Prelims and GS-II- Global Groupings; International relations & GS-III – Trade
In news
Recently, the 8th East Asia Summit Economic Ministers’ Meeting (EAS-EMM) was held virtually.
Attended by: 10 ASEAN members and eight other nations, including India, the USA, and China.
Key takeaways
The importance of strengthening regional supply chains to make them resilient in times of Covid-19 pandemic and to increase economic growth was highlighted.
Any trade-restrictive emergency measures put in place to address the impact of Covid-19 must be consistent with the WTO rules.
They must not create unnecessary barriers to trade.
Support for the necessary reforms in the WTO was also discussed.
Facilitating the essential movement of people across borders.
Commitment to facilitate supply chain connectivity and inclusion of essential goods.
Harness the opportunities of the digital economy to overcome the challenges posed by restricted movement.
It is a forum of 18 regional leaders for strategic dialogue and cooperation on the key political, security, and economic challenges facing the Indo-Pacific region.
India is one of the founding members of the East Asia Summit.
Membership: ASEAN members and 8 other countries namely Australia, China, Japan, India, New Zealand, South Korea, Russia and USA.
It is an ASEAN-centred forum so it can only be chaired by an ASEAN member.
ASEAN members: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam.
