JAKARTA - Deputy Secretary-General of ASEAN for the ASEAN Economic Community, Satvinder Singh assessed that the implementation of the reciprocal rate by the President of the United States, Donald Trump, has actually brought other countries closer to each other, including members of the association.
Speaking at ASEAN-Japan Symposium, Singh said the disturbances that occur in the current geoeconomic situation triggered by decisions made by the United States, particularly regarding the reciprocal rate, actually have the opposite effect which he calls an unintentional effect.
"The unintentional effect was, over the years I have never seen the world get this close to each other," Singh said as quoted by ANTARA, Tuesday, November 11.
A few weeks after President Trump announced a tariff policy, Singh continued, ASEAN's economic ministers were among the first parties to jointly convey their position very clearly they still wanted to work with the US constructively.
However, at the same time, ASEAN ministers also firmly stated that they wanted to cooperate with the rest of the world, even closer.
"A few weeks later, we started communicating with our biggest trading partners to hold bilateral meetings with economic ministers from Japan, Korea, Australia and New Zealand, with the aim of strengthening our togetherness," Singh said.
Singh said the application of Trump's tariff actually made the Association of Southeast Asian Nations that implemented the open trading system more profitable.
He also considered the implementation of Trump's tariff policy to be a momentum for ASEAN to be even more active in reducing non-tariff barriers that interfere with regional free trade.
Despite admitting ASEAN countries still face challenges in reducing non-tariff barriers, Singh emphasized that the ASEAN Summit in Kuala Lumpur last October had made one step forward to resolve the trade problem.
At the summit, ASEAN leaders signed an upgrade to the ASEAN Free Trade Agreement (ATIGA Agreement). Part of the changes to the agreement will be directed to address various problems, including non-tariff obstacles.
In ASEAN itself, we are investing to overcome our own non-tariffed obstacles. I also see countries around the world now getting closer to each other, trying to find ways to do business better, fairer, and more equally," Singh said.
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