The ASEAN economic ministers on April 23 signed the ASEAN Trade in Services Agreement (ATISA) and the fourth protocol amending the ASEAN Comprehensive Investment Agreement (ACIA) in Phuket, Thailand.

The ASEAN economic ministers sign the ASEAN Trade in Services Agreement (ATISA) and the fourth protocol amending the ASEAN Comprehensive Investment Agreement (ACIA) in Phuket, Thailand, April 23, 2019 – Photo: VNA

The signing ceremony was held within the framework of the 25th ASEAN Economic Ministers (AEM)’s Retreat, which took place in Phuket from April 22-23.

The ATISA will replace the ASEAN Framework Agreement on Services (AFAS) that took effect since 1995, benefiting services in healthcare, tourism, accommodation, construction, and convention and exhibition services.

The ATISA, coming into force in the next 180 days, aims to improve standards and effectiveness of regulations on service at ASEAN country members, reduce trade barriers as well as strengthen the transparency in trade and service within ASEAN countries.

Meanwhile, the fourth protocol amending the ACIA is expected to attract more foreign investment in ASEAN

The Vietnamese delegation, led by Deputy Minister of Industry and Trade Tran Quoc Khanh held a bilateral meeting with the Indonesian delegation to discuss measures to boost mutual trade value.