JAKARTA, Feb 14 – ASEAN is looking to expand its single window initiative with Japan to boost two-way trade this year, as both sides mark the 50th anniversary of their bilateral relations this year, Secretary-General Kao Kim Hourn said.
Speaking at a seminar on ASEAN-Japan relations on Monday, Vietnam news agency (VNA) reported Kao affirmed that in addition to the implementation of the Regional Comprehensive Economic Partnership (RCEP), ASEAN looks forward to expanding its ASEAN Single Window (ASW) with Japan to facilitate trade in the new normal.
According to him, their two-way trade has grown strongly over the years, reaching US$240.2 billion in 2021, up 17.2 per cent compared to 2020 and exceeding pre-pandemic levels.
This result has made Japan the third largest trading partner of ASEAN.
Among ASEAN’s dialogue partners, Japan is the fourth largest source of foreign direct investment.
ASEAN welcomes Japan’s intention to set up a comprehensive strategic partnership between them by the end of 2023, the official said.
The ASW, which allows all member states to perform faster and less-paper customs clearance, was implemented in 2019.
