VIENTIANE, Sept. 25 (Xinhua) -- The 56th ASEAN Economic Ministers' Meeting and related meetings concluded with the adoption of several agreements and priority plans to pave the way for future development.

The meetings, which took place in Lao capital Vientiane from Sept. 16 to 22, saw ministers discuss priority economic deliverables and take stock of the progress on a range of economic initiatives.

They also charted strategic directions for future regional economic integration, Lao National Radio reported on Wednesday.

At the meeting, ASEAN economic ministers endorsed the ASEAN Declaration on Supply Chain Connectivity. The declaration reaffirms ASEAN's commitment to enhancing innovation, competitiveness, and the resiliency of supply chains in the region.

The ministers also adopted recommendations for the upgrade of the ASEAN Framework Agreement on Intellectual Property Cooperation.

The meeting also endorsed the ASEAN SME Policy Index 2024, a comprehensive assessment of SME policies across AMS that serves as a roadmap for policymakers, businesses and investors to navigate the complex landscape of SME development in the region, and adopted the Cambodia, Laos, Myanmar and Vietnam Action Plan for 2025-2026.

In addition, the meeting discussed ways to improve intra-ASEAN trade, particularly through trade facilitation measures and progressive implementation of the ASEAN Trade in Goods Agreement (ATIGA), and welcomed the significant progress of the ATIGA upgrade negotiations.

Talks also considered ways to further improve the region's investment environment. Ministers welcomed the commencement of the signing of the Fifth Protocol to Amend the ASEAN Comprehensive Investment Agreement, and adopted in principle the ASEAN Regional Investment Promotion Plan Phase 1 for 2025-2026. Enditem

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