Photo taken on Aug. 28, 2020 shows the venue of the 23rd ASEAN Economic Ministers Plus Three Consultations in Hanoi, Vietnam. Economic ministers from the 10 members of the Association of Southeast Asian Nations (ASEAN), China, Japan and South Korea have reaffirmed their commitment to take collective actions in mitigating the economic impact of the COVID-19 pandemic. Attending the 23rd ASEAN Economic Ministers Plus Three Consultations via video link on Friday, the ministers underscored the importance of bringing back business confidence to facilitate post-pandemic recovery, according to a joint media statement of the meeting. (VNA/Handout via Xinhua)

Economic ministers from the 10 members of the Association of Southeast Asian Nations (ASEAN), China, Japan and South Korea have reaffirmed their commitment to take collective actions in mitigating the economic impact of the COVID-19 pandemic.

Attending the 23rd ASEAN Economic Ministers Plus Three Consultations via video link on Friday, the ministers underscored the importance of bringing back business confidence to facilitate post-pandemic recovery, according to a joint media statement of the meeting.

They agreed to intensify coordinated efforts in promoting economic and social resilience in the region, including through signing of the Regional Comprehensive Economic Partnership (RCEP) this year, said the statement.

Welcoming the progress on the RCEP negotiations and the preparation for its signing this year, the ministers reiterated the significance of the deal's signing in enhancing confidence and strengthening the regional economic architecture, according to the statement.

The ministers resolved to ensure macroeconomic and financial stability by keeping the markets open for trade and investment and ensuring the supply chain connectivity, and reiterated the need for cooperative efforts to facilitate the essential movement of business people across borders, it said.

In enabling post-pandemic recovery, the ministers also recognized the importance of harnessing the opportunities of the digital economy by facilitating the cross-border transfer of information and data by electronic means, the statement said.