The 45th ASEAN Economic Ministers Meeting (AEMM) opened here Monday afternoon at the International Convention Center where economic ministers will review the regional performance amidst current global economic situation and exchange ideas on how ASEAN can increase its regional competitiveness and further strengthen its position as a key player in the international supply chain.

Developments in establishing the ASEAN Economic Community by 2015 will top the agenda, so ministers will be expected to discuss the progress that has been made in deepening integration between and amongst all ASEAN member states, particularly on trade in goods, services and investment. Aside from that, regional cooperation on matters relating to Small and Medium Enterprises, intellectual property, competition policy, consumer protection and public-private sector engagement will also be discussed.

From Aug. 20 to 21, ASEAN economic ministers will have their annual consultations with their counterparts from all ASEAN dialogue partners: China, Japan, South Korea, India, Australia, New Zealand, the United States, Canada as well as Russia -- all of whom will sit with their ASEAN counterparts and review the status of their cooperation with their respective economies, and deliberate means to further strengthen such partnerships that have been described as a key component of the overall strategy for ASEAN to be fully integrated into the global economy.

In their engagement with counterparts from ASEAN dialogue partners, the ministers will also have an opportunity to review the status of ASEAN's cooperation with the respective economies, and discuss how to further strengthen such partnerships, as these external linkages form a key component of the overall strategy for ASEAN to be fully integrated into the global economy.

As furtherance to these efforts, a number of side events have also been lined up to coincide with the AEMM, which will include the 3rd ASEAN Investment Forum, the ASEAN Business and Investment Summit, the ASEAN-China Youth Forum organized by the Brunei Economic Development Board, the ASEAN Business Advisory Council and the Young Entrepreneurs Association of Brunei Darussalam.